Micah Corporation purchased 3,800 pounds of raw materials on March 1 at a price of ($5.20) per

Question:

Micah Corporation purchased 3,800 pounds of raw materials on March 1 at a price of $$5.20$ per pound to use in production during March. Micah produced 2,000 units during March though the production budget anticipated production of 2,200 units. The company’s standards recommend 2 pounds of materials per unit and dictate a standard price of $$5.05$ per pound. Which of the following is correct with respect to Micah’s materials variances for the month of March?

a. The materials price variance is $$570$ favorable.

b. The materials efficiency variance is $$1,010$ unfavorable.

c. The materials price variance is $$570$ unfavorable.

d. The materials efficiency variance is $$3,030$ favorable.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 0% (1 review)

Answered By

Tobias sifuna

I am an individual who possesses a unique set of skills and qualities that make me well-suited for content and academic writing. I have a strong writing ability, allowing me to communicate ideas and arguments in a clear, concise, and effective manner. My writing is backed by extensive research skills, enabling me to gather information from credible sources to support my arguments. I also have critical thinking skills, which allow me to analyze information, draw informed conclusions, and present my arguments in a logical and convincing manner. Additionally, I have an eye for detail and the ability to carefully proofread my work, ensuring that it is free of errors and that all sources are properly cited. Time management skills are another key strength that allow me to meet deadlines and prioritize tasks effectively. Communication skills, including the ability to collaborate with others, including editors, peer reviewers, and subject matter experts, are also important qualities that I have. I am also adaptable, capable of writing on a variety of topics and adjusting my writing style and tone to meet the needs of different audiences and projects. Lastly, I am driven by a passion for writing, which continually drives me to improve my skills and produce high-quality work.

5.00+ 1+ Reviews 10+ Question Solved

Related Book For book-img-for-question