Question
Dr. Fauci plans to make 10,000 cloth masks but ends up making 14,000 due to high demand. He purchases 5,000 yards of cloth and uses
Dr. Fauci plans to make 10,000 cloth masks but ends up making 14,000 due to high demand. He purchases 5,000 yards of cloth and uses 4,600 in production. The actual price of cloth is $5.7 per yard and the standard price is $5.5 per yard. The standard quantity is .25 yards per mask. What is Dr. Fauci's materials price variance? Enter your answer as a positive number (note Favorable or Unfavorable for the next question)
Dr. Fauci plans to make 10,000 cloth masks but ends up making 14,000 due to high demand. He purchases 5,000 yards of cloth and uses 4,600 in production. The actual price of cloth is $5.8 per yard and the standard price is $5.5 per yard. The standard quantity is .25 yards per mask.
What is Dr. Fauci's materials quantity variance?
Enter your answer as a positive number (note Favorable or Unfavorable for the next question)
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Financial Accounting Theory and Analysis Text and Cases
Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey
10th edition
470646284, 978-0470646281
