Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Direct Materials Variances The following data relate to the direct muterlals cost for the production of 2,500 automobile tires: Actual: ( quad 50,900 mathrm{lbs} ),

image text in transcribed
Direct Materials Variances The following data relate to the direct muterlals cost for the production of 2,500 automobile tires: Actual: \\( \\quad 50,900 \\mathrm{lbs} \\), at 51.7 per ib. Standard: \\( 49,900 \\mathrm{lbs} \\), at 51.65 per ib. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable varlance as a positive number. b. The direct materials price variance should normally be reported to the because of production efficiencies, the variance would be reported to the Durchase of higher-quality raw materials, the variance should be reported to the [ \\( \\checkmark \\). If lower amounts of direct materials had been used 1. If the favorable use of raw materials had been caused by th 1. If the favorable use of raw materials had been caused by th \\( \\checkmark \\)

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

Information Systems Control And Audit

Authors: Et Al. Hyo-Jeong Kim, Michael Mannino, Compiled By Koros Press Editorial Board

1st Edition

1781639426, 978-1781639429

More Books

Students also viewed these Accounting questions