Direct materials variances OBJ. 3 The following data relate to the direct materials cost for the production
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Direct materials variances OBJ. 3 The following data relate to the direct materials cost for the production of 4,000 automobile tires:
Actual: 72,500 lbs. at $3.30 Standard: 75,160 lbs. at $3.15
a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.
b. To whom should the variances be reported for analysis and control?
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Related Book For
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
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