Inputs Direct materials Direct labor Variable manufacturing overhead Output 8.70 liters 0.50 hours 0.50 hours Standard...

 

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Inputs Direct materials Direct labor Variable manufacturing overhead Output 8.70 liters 0.50 hours 0.50 hours Standard Price or Rate $ 8.30 per liter $ 27.70 per hour $ 7.20 per hour The company has reported the following actual results for the product for September: Actual output Raw materials purchased Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours Actual direct labor cost Actual variable overhead cost Required: a. Compute the materials price variance for September. 10,900 units 96,300 liters $ 823,500 94,850 liters 5,000 hours $ 142,302 $ 32,414 Inputs Direct materials Direct labor Variable manufacturing overhead Output 8.70 liters 0.50 hours 0.50 hours Standard Price or Rate $ 8.30 per liter $ 27.70 per hour $ 7.20 per hour The company has reported the following actual results for the product for September: Actual output Raw materials purchased Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours Actual direct labor cost Actual variable overhead cost Required: a. Compute the materials price variance for September. 10,900 units 96,300 liters $ 823,500 94,850 liters 5,000 hours $ 142,302 $ 32,414

Answer rating: 100% (QA)

To compute the materials price variance for September well use the following formula Materials Price ... View the full answer