Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Clean Plate Company produces placemats. Each placemat calls for 0.2 meters of vinyl material; the material should cost $1 per meter. In June, the company

Clean Plate Company produces placemats. Each placemat calls for 0.2 meters of vinyl material; the material should cost $1 per meter. In June, the company manufactured and sold 100,000 placemats. During the month, it used 20,200 meters of vinyl material. The total cost of the material was $19,796.

  1. Compute the direct materials price and direct materials quantity variances for June. Determine them as "favorable" or "unfavorable".
  2. What is the actual DM price per unit and actual DM quantity per unit?

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

Fundamentals Of Oil And Gas Accounting

Authors: Rebecca A. Gallun, Ph.D. Wright, Charlotte J, Linda M. Nichols, John W. Stevenson

4th Edition

0878147934, 9780878147939

More Books

Students also viewed these Accounting questions