Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Dow Chemical Company makes Product XYZ and shares the standard inputs for the materials that make up Product XYZZ: - 4.5lbs - Standard quantity per

image text in transcribed
Dow Chemical Company makes Product XYZ and shares the standard inputs for the materials that make up Product XYZZ: - 4.5lbs - Standard quantity per unit - \$16 - Standard price per pound Dow Chemical Company produped 10,000 units of Product XYZ. which took 50,000 pounds of material costing 5825,000 . Show your calculations for credit and calculate the following: a. Total materials variance and indicate whether A is favorable or unfavorable. b. Materials price variance and indicate whother it is favorable or untavorable. c. Materials usage variance and indicate whether it is firvorable or untovorablo d. Provide a brief explarution for the variances you ve calculated include what the vaniance means and a possible cause of the variance

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

Monthly Bank Reconciliation Statement Log

Authors: Elizabeth S.R.M. Cole

1st Edition

1541036824, 978-1541036826

More Books

Students also viewed these Accounting questions