Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume the following: The standard price per pound is $ 2 . 0 0 . The standard quantity of pounds allowed per unit of finished

Assume the following:
The standard price per pound is $2.00.
The standard quantity of pounds allowed per unit of finished goods is 4 pounds.
The actual quantity of materials purchased and used in production is 50,300 pounds.
The actual purchase price per pound of materials was $2.30.
The company produced 13,000 units of finished goods during the period.
What is the materials price variance?
Multiple Choice
$15,593
$15,090F
$15,090U
$15,593F
image text in transcribed

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

Financial Accounting

Authors: LibbyShort

7th Edition

78111021, 978-0078111020

More Books

Students also viewed these Accounting questions

Question

=+ d. What happens to Oceanias trade balance?

Answered: 1 week ago

Question

=+ e. What happens to Oceanias real exchange rate?

Answered: 1 week ago