Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 points 00:35:36) eBook Hint Print References E9-4 (Algo) Interpreting Direct Materials Price, Quantity Variances [LO 9-3] Perfect Pet Collar Company makes custom leather pet

2 points 00:35:36) eBook Hint Print References E9-4 (Algo) Interpreting Direct Materials Price, Quantity Variances [LO 9-3] Perfect Pet Collar Company makes custom leather pet collars. The company expects each collar to require 1.55 feet of leather and predicts leather will cost $2.60 per foot. Suppose Perfect Pet made 50 collars during February. For these 50 collars, the company actually averaged 1.85 feet of leather per collar and paid $2.10 per foot. Required: 1. Calculate the standard direct materials cost per unit. 2. Without performing any calculations, determine whether the direct materials price variance will be favorable or unfavorable. 3. Without performing any calculations, determine whether the direct materials quantity variance will be favorable or unfavorable. 6. Calculate the direct materials price and quantity variances. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 6 Calculate the standard direct materials cost per unit. Note: Round your answer to 2 decimal places. Standard Direct Materials per Collar
image text in transcribed
image text in transcribed
E9-4 (Algo) Interpreting Direct Materials Price, Quantity Variances [LO 9-3] Perfect Pet Collar Company makes custom leather pet collars. The company expects each collar to require 1.55 feet of leather and predicts leather will cost $2.60 per foot Suppose Perfect Pet made 50 collars during February. For these 50 collars, the company actually averaged 1.85 feet of leather per collar and paid $2.10 per foot. Required: 1. Calculate the standad direct materials cost per unit. 2. Without performing any caleulations, determine whether the direct materials price variance will be favorable or unfavorabie. 3. Without performing any calculations, determine whether the direct materials quantity variance will be favorable or unfavorable. 6. Calculate the direct moterials price and quantity variances. Complete this question by entering your answers in the tabs below. Calculate the standard direct materials cost per unit. Note Hound your answer to 2 decimal places. E9-4 (Algo) Interpreting Direct Materials Price, Quantity Variances [LO 9-3] Perfect Pet Collar Company makes custom leather pet collars. The company expects each collar to require 1.55 feet of leather and predicts leather will cost $2.60 per foot. Suppose Perfect Pet made 50 collars during February. For these 50 collars, the company actually averaged 1.85 feet of leather per collar and paid $2.10 per foot. Required: 1. Calculate the standard direct materials cost per unit. 2. Without performing any calculations, determine whether the direct materials price variance will be favorable or unfavorable. 3. Without performing any calculations, determine whether the direct materials quantity variance will be favorabie or unfavorable. 6. Calculate the direct materials price and quantity variances. Complete this question by entering your answers in the tabs below. Calculate the standard direct materials cost per unit. Note: Round your answer to 2 decimal places

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Health And Safety Audits

Authors: Lawrence B. Cahill

8th Edition

0865878250, 978-0865878259

More Books

Students also viewed these Accounting questions

Question

5.2 Summarize the environment of recruitment.

Answered: 1 week ago