Question
Grouper Company's standard materials cost per unit of output is $12 (3 pounds x $4). During July, the company purchases and uses 5,200 pounds of
Grouper Company's standard materials cost per unit of output is $12 (3 pounds x $4). During July, the company purchases and uses 5,200 pounds of materials costing $21,164 in making 1,700 units of finished product.
Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.)
Total materials variance
$
enter a dollar amount rounded to 0 decimal places
select an option
Materials price variance
$
enter a dollar amount rounded to 0 decimal places
select an option
Materials quantity variance
$
enter a dollar amount rounded to 0 decimal places
select an option
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started