# Calculate the direct material price variance for June. If the variance is favorable, enter an F after your number with a space between the number

###### Determine the individuals and groups who would be included in the various configuration relationships
September 11, 2020
###### If you were to receive \$1,166.40 in two years and the appropriate discount rate was 8 percent, the present value would be \$1,166.40/(1.082) = \$1000. Using your own numbers, provide some examples showing the calculation of the present value of a future payment.
September 11, 2020

Second question on how to  Calculate the direct material price variance for June

ABC Company began operations on June 1, 2019. For its first month of operations, ABC
Company established the following standards for unit of its single product:

standard quantity standard price

direct materials 8 pounds \$3.50 per pound
direct labor 7 hours \$15.00 per hour
variable overhead 7 hours \$7.50 per hour

The following information is available for surge for the month of June:

1. 65,000 pounds of direct materials were purchased at a total cost of \$188,500.
2. 45,000 direct labor hours were worked at a total cost of \$731,250.
3. The variable overhead cost for the month totaled \$325,000.
4. 6,500 units were produced.
5. At June 30, ABC Company had 8,000 pounds of direct materials on hand.

Calculate the direct material price variance for June. If the variance is favorable, enter an F after your number with a space between the number and the F (i.e., 10,000 F).

If the variance is unfavorable, enter a U after your number with a space between the number and the U (i.e., 10,000 U).

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