ABC Company's standard price for raw material #123 is $8 per gallon. During the month of January, ABC purchased 12,000 gallons of raw material #123 at $8.25 per gallon and used 10,500 gallons. ABC's raw material purchase price variance for January is Blank______.Multiple choice question.2,625 unfavorable3,000 favorable2,625 favorable3,000 unfavorable

ABC Company's standard price for raw materials #123 is $8 per gallon. During the month of January, ABC purchased 12,000 gallons of raw materials #123 at $8.25 per gallon and used 10,500 gallons. ABC's raw materials purchase price variance for January = $.

ABC Company's production budget for October is based on 500 units. Standard unit cost for raw materials is $130 per unit ($10 per pound x 13 pounds per unit). ABC's actual production in October = 525 units. The actual cost of materials used = $69,300 ($11 per pound x 12 pounds per unit).Calculate the raw materials usage variance for October:Raw materials usage variance = $.Use F or U to identify the variance as Favorable or Unfavorable: .

ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds @ $1.00 per pound; Direct labor: 1 hour @ $10.00 per hour. The company produced 35,000 units and had the following actual costs: Direct materials: 18,000 pounds at a total cost of $17,280; Direct labor: 36,000 hours at a total cost of $374,400. Compute the direct materials price variance.

Following are ABC Company's production costs for January:Direct Materials $83,000Direct Labor $39,000Manufacturing Overhead $5,200Calculate the total cost that can be directly traced to specific products in the production process.

If ABC Company determines its cost per unit for July's production is $28.75 and it produced 12,600 units, ABC's total manufacturing costs (direct materials, direct labor, and manufacturing overhead) incurred in July is $.