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AWAirplanes Inc. manufactures paper airplanes for kids. The company had the following information related to its November operations: Direct material actually bought in November 3,000
AWAirplanes Inc. manufactures paper airplanes for kids. The company had the following information related to its November operations:
| Direct material actually bought in November | 3,000 pounds |
| Direct material actually used in November | 2,900 pounds |
| Standard quantity of direct material allowed for Novembers actual output | 3,100 pounds |
| Actual price of direct material in November | $1 per pound |
| Standard price of direct material in November | $2 per pound |
- What was AWAirplanes materials price variance for November? (dont forget to label favorable or unfavorable)
- What was AWAirplanes materials quantity variance for November? (dont forget to label favorable or unfavorable)
- Do these two variances net to Awesome Airplanes direct materials spending variance for November? Why or why not?
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
