Homework Accounting

Joe Corp (JC) makes widgets. To do this, the company need sto buy a good amount of direct materials. This month, JC puchased/used 2,900 ft of material. The materials cost JC 52.15 per ft. In its previous budget, JC expected to use 2700 ft and for it to cost $2 per foot. Required: Compute each of the following variances and indicate whether each variance is favorable (F) or unfavorable (U): (A) Materials quantity variance (75) (B) Materials price variance (75) (C) Total material variance(1 pt) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). U S Paragraph Open Sans,sa...M 12.8 px v 5 v Ev Av v I a 6 E = = >