Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but require different amounts. Standard materials for

image text in transcribed

Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but require different amounts. Standard materials for both are shown. Rubber Connector Large Small 3 feet at $0.20 per foot 1.25 feet at $0.20 per foot 1 at $0.02 1 at $0.02 At the beginning of the month, Ed Co. bought 26,000 feet of rubber for $7,150. The company made 3,000 large O rings and 4,000 small O rings. The company used 14,500 feet of rubber. A. What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? Enter all amounts as positive numbers. If required roune Direct materials price variance Direct materials quantity variance Total direct materials cost variance B. If they bought 9,000 connectors costing $190, what would the direct materials price variance be for the connectors? Round your intermediate calculations to three decimal places. Direct materials price variance C. If there was an unfavorable direct materials price variance of $100, how much did they pay per foot for the rubber? Round your answer to two decimal places. Actual price

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

Introduction to Governmental and Not for Profit Accounting

Authors: Martin Ives, Terry K. Patton, Suesan R. Patton

7th edition

9780132776073, 132776014, 978-0132776011

More Books

Students also viewed these Accounting questions

Question

1. Use questioning to check your understanding.

Answered: 1 week ago