 Show Get the answer to your homework problem. Try Numerade free for 7 days We don’t have your requested question, but here is a suggested video that might help. Related QuestionWho is generally responsible for the materials price variance? the materials quantity variance? the labor efficiency variance? DiscussionYou must be signed in to discuss. Video Transcriptunless trends. We are given a question that who is generally responsible for the material price variants and for material quantity variants and for the labor efficiency variants. Okay, so first of all, we are supposed to know that the purchasing manager is generally responsible for the material price variants. Okay, so we can write anyone right? That purchasing manager but it's using manager is responsible for is responsible for the material price variants. Okay. Material grace variants. The second point is like for material quantity variants. So we are supposed to know that production manager okay, is generally responsible for the material quantity variants. So we can write that production production managers. Production managers is responsibility, sorry, its response responsible for the materials entity materials quantity variance. Okay. And for labor of the efficiency variants, we are supposed to know that they're here. It is the responsible labor efficiency labor we can directly state that production managers and supervisors. Okay. Some production managers, managers and as well as supervisors, supervisors and responsible for labor efficiency variance, labor efficiency variants. Okay, so that's all about our final answer. Thank you. Who is generally responsible for the materials price variance? The materials quantity variance? The labor efficiency variance? Q: What is the variation in the use of materials at actual price and standard materials at standard… A: "since you have posted more than one questions and not specified which should be solved so we are… Q: What is the variable manufacturing overhead rate variance? A: Variable Manufacturing Rate Variance = php300 (Favourable) Refer step 2 for explanation Q: What effect, if any, would you expect poor-quality materials to have on direct labor variances? A: Direct labour variance mainly arises due to the differences in the actual and budgeted rates of wage… Q: What effect, if any, would you expect poor-quality materials to have on direct labor variances? A: Definition: Direct labor variance mainly arises due to the differences in the actual and budgeted… Q: The direct materials quantity variance is A: Direct material cost variance: direct material variance is variance analysis done by the company to… Q: .The direct materials quantity variance is A: Direct materials quantity variance = Standard price * (Standards quantity for actual production -… Q: What were the price and quantity variances for direct material, respectively? What were the rate… A: 1. Compute the price and quantity variances for direct materials. Q: Define direct labour variances. A: Definition: Variance Analysis: Variance analysis is the process of evaluating the differences… Q: What is the direct labor rate variance? A: The variation between actual results and the budget or standard is referred as variance. Q: What distinction must be made when computing the materials price variance vs. the materials quantity… A: The answer for the theory question on material price and quantity variances is discussed hereunder :… Q: need help finding the: - materials price variance & the materials quantity variance - labor rate… A: Click to see the answer Q: OMPUTE FOR THE MATERIALS YIELD VARIANCE A: A. Material Mix Variance is showing the difference in raw material cost dues to changes in the… Q: If the total materials variance for a given operation is favorable, why must this variance be… A: Favorable variance means the variance has a positive impact on the budgeted profitability of the… Q: Calculate the material quantity variance and the engineering change order (ECO) material variance. A: Material quantity variance is a category of variance that compares actual quantity and standard… Q: COMPUTE FOR THE MATERIALS MIX VARIANCE COMPUTE FOR THE MATERIALS YIELD VARIANCE A: Formulae's: Material Mix variance = (Revised standard quantity - Actual quantity)*Standard price… Q: what is the difference between fixed overhead budget variance and fixed overhead volume variance A: The variance is the difference between the actual data and standard output of the production. Q: Compute the Materials Price Variance b. Compute the Materials Quantity Variance c. Compute the… A: Planning budget: A planning budget is a budget prepared by the planning committee For setting up a… Q: Write in detail the possible causes of each of the following variance. Direct materials price and… A: Variances: A cost variance is a difference between the actual expenses incurred and the standard… Q: what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter… A: Direct material variances: The difference between the actual material cost per unit and the… Q: The individual generally responsible for the direct-material price variance is the: A: The individual generally responsible for the direct-material price variance is the: Answer - d)… Q: Give an example of a Direct Material Price Variance with figures and calculate the variance A: Direct Material Price Variance is the difference between actual material cost and standard cost of… Q: From the following information calculate Labour cost Variance, Labour Rate Variance and Labour… A: Variance can be defined as the alteration between the actual amounts and the budgets being set. The… Q: Total Materials Variance Material Price Variance Material Quantity Variance Total Labor Variance… A: Variance analysis: The process of evaluating the difference between the actual performance and the… Q: What is the material price variance? A: Talon Company Standard variable overhead = Variable overhead per DLH = $1.75 Actual variable… Q: Which of the following variances are most similar with respect to the manner in which they are… A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,… Q: a. What is the material price usage, material quantity and total material variance D. What is the… A: Material Quantity Variance-It is the difference between how much material used and expected to be… Q: Direct Materials and Direct Labor Variance Analysis A: a. Determine standard cost per unit Direct material standard cost per unit = Std. number of lbs of… Q: Which of the following variances is least likely to be controlled by manager? Volume variance… A: solution concept Volume variance Volume variance ,means variance that occurs due to the… Q: Define product cost variances. A: Product Cost variances occur when the standard cost is higher or lower than the actual costs They… Q: What makes a variance favorable? Give an example of a favorable variance involving materials. What… A: Variance is the difference in the value of budgeted cost\quantity and the actual cost\quantity. When… Q: The materials price variance can be computed at what two different points in time? Which point is… A: Material price variance is the difference between the standard cost and the actual cost for the… Q: The materials price variance can be computed at what two different points in time? Which point is… A: Variance: It refers to the difference between the budgeted costs and the actual amount of cost… Q: The materials price variance can be computed at what two different points in time? Which point is… A: Click to see the answer Q: What is the interpretation of the direct-material price variance and the direct-material purchase… A: Definition: Variance: Variance refers to the different levels in the actual cost incurred and… Q: Find material price variance A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,… Q: hich of the following factor may not be included in the computation of the total materials variance?… A: Formula Total Material variance = (Standard cost of material allowed for actual output) – (Actual… Q: Determine the fixed factory overhead volume variance. A: Fixed overhead volume variance is the difference between the fixed over head actually absorbed based… Q: Explain and describe the overhead variance. A: Variance means when the actual cost does not match with the estimated costs. To compute the… Q: direct labour hour variance A: Direct labor hour variance = Standard labor rate * (Actual hours - Standard hours) Q: The standards for direct materials are made up of which of the following components? a.variance… A: The question is multiple choice question. Required Choose the Correct Option. Q: What is a materials quantity variance? Describe this in your own words. Writing a formula is not a… A: Material cost variance arises when there is difference in standard cost of materials and actual cost… Knowledge Booster Learn more about Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below. Recommended textbooks for you Managerial Accounting: The Cornerstone of Busines... ISBN:9781337115773 Author:Maryanne M. Mowen, Don R. Hansen, Dan L. 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What is the materials price variance and the materials quantity variance?Direct materials quantity variance is a part of the overall materials cost variance that occurs due to the difference between the actual quantity of direct materials used and the standard quantity allowed for the output. Direct materials quantity variance is also known as direct material usage or volume variance.
What variances are production managers responsible for?Hence, the production manager will have control over amount of time used by workers to manufacture each product.
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Categories of Variance.. Who is responsible for efficiency variance?Generally, the production department is responsible for direct labor efficiency variance. However, the variance may be influenced by other factors. For example, if the variance is due to low-quality of materials, then the purchasing department is accountable.
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Who is generally responsible for the materials price variance the materials quantity variance?
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