Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 4 pounds at $8 per pound$ 32 Direct labor: 2 hours at $16 per hour32 Variable overhead: 2 hours at $6 per hour12 Total standard cost per unit$ 76 The planning budget for March was based on producing and selling 32,000 units. However, during March the company actually produced and sold 37,000 units and incurred the following costs: Purchased 160,000 pounds of raw materials at a cost of $7.40 per pound. All of this material was used in production. Direct laborers worked 67,000 hours at a rate of $17 per hour. Total variable manufacturing overhead for the month was $422,100. rev: 11_20_2017_QC_CS-109672 6. If Preble had purchased 182,000 pounds of materials at $7.40 per pound and used 160,000 pounds in production, what would be the materials quantity variance for March

The materials quantity variance for March for Preble Company, which manufactures a product, is $96,000 Unfavorable.

A material quantity variance shows the difference between the actual materials consumed and the budgeted amount in production.

Computing the materials quantity variance helps management to determine the production efficiency.

The materials quantity variance can be computed using the following formula:

Materials Quantity Variance = (Standard Quantity Units – Actual Quantity Units ) ✕ Standard Cost Per Unit.

Planned production and sales units = 32,000 units

Actual production and sales units = 37,000 units

Direct materials: 4 pounds at $8 per pound  $ 32

Direct labor: 2 hours at $16 per hour                 32

Variable overhead: 2 hours at $6 per hour        12

Total standard cost per unit                             $ 76

Purchase of raw materials = 160,000 pounds

Cost of purchase per pound = $7.40

Direct labor hours = 67,000 hours

Direct labor rate = $17 per hour

Total variable manufacturing overhead = $422,100

Materials Quantity Variance = (Standard Quantity Units – Actual Quantity Units ) ✕ Standard Cost Per Unit.

= (37,000 x 4 - 160,000) x $8

= $96,000 Unfavorable

Thus, the materials quantity variance for March for Preble Company is $96,000 Unfavorable.

Learn more about computing variances at https://brainly.com/question/15858152

The journal entry to record the amortization of a bond discount would include a __________ to __________.

a. debit; Discount on Bonds Payable
b. credit; Discount on Bonds Payable
c. credit; Interest Expense
d. debit; Cash

If $1,000 was deposited today at a rate of 15%, its future value in one year would be

$1,000.
$1,150.
$1,500.
$850.

An oligopoly can be described as an industry in which _____ .
Select one:

a) 7-9 companies produce half of the output

b)one company produces most of the output

c)3-5 companies produce most of the output

d)7-9 companies produce most of the output

Inventoriable costs are Group of answer choices only purchased goods for resale. a category of costs used only for manufacturing companies. recorded as expenses when incurred and later reclassified as assets. recorded as assets when incurred.