(Direct material variances) In August 1996, Westwego Companys costs and amounts of paper consumed in manufacturing its 1997 Executive Planner and Calendar were as follow a Calculate the total cost of purchases for August b Compute the material price variance (based on quantity purchased) c Calculat...

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(Direct material variances) In August 1996, Westwego Companys costs and amounts of paper consumed in manufacturing its...

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(Direct material variances) In August 1996, Westwego Company’s costs and amounts of paper consumed in manufacturing its 1997 Executive Planner and Calendar were as follow: image text in transcribed

a. Calculate the total cost of purchases for August.

b. Compute the material price variance (based on quantity purchased).

c. Calculate the material quantity variance.LO1

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Cost Accounting Traditions And Innovations

ISBN: 9780538880473

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Authors: Jesse T. Barfield, Cecily A. Raiborn, Michael R. Kinney

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(Direct material variances) In August 1996, Westwego Companys costs and amounts of paper consumed in manufacturing its...

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Actual unit purchase price Standard quantity allowed for good production Actual quantity purchased during August Actual quantity used in August Standard unit price $.16 per page 195,800 pages 230,000 pages 200,000 pages $.15 per page

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Cost Accounting Traditions And Innovations

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