Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ABC corporation purchased 35,000 yards of fabric for a total cost of $350,000. The standard price per yard was $10.50. What is the direct materials
ABC corporation purchased 35,000 yards of fabric for a total cost of $350,000. The standard price per yard was $10.50. What is the direct materials price variance? \begin{tabular}{l} $17,500F \\ \hline$17,500U \\ \hline 0F \\ \hline$15,000F \end{tabular} Question 2 1 pts XYZ corporation allocates all manufacturing overhead on the basis of direct labor hours. Actual manufacturing overhead costs for the period were $19,500 and actual direct labor hours were $45,000 for a total of 3,000 hours. If the rate for variable MOH is $5/ hour, what is the Variable MOH spending variance? \begin{tabular}{c} $4,500F \\ \hline$30,000F \\ \hline$4,500U \\ \hline$30,000U \end{tabular}
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started