Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Information on OCP's direct materials costs for the current month is as follows:actual quantity of direct materials purchased and used, 30,000 pounds;actual cost of direct

Information on OCP's direct materials costs for the current month is as follows:actual quantity of direct materials purchased and used, 30,000 pounds;actual cost of direct materials, $84,000;direct materials efficiency variance, $3,000 U;standard quantity of direct materials allowed for the current month's production, 29,000 pounds.Based on the presented information, OCP's direct materials price variance for the month is closest to:

a.$2,800 F

b.$2,800 U

c.$6,000 U

d.$6,000 F

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

College Accounting Chapters 1-15

Authors: James A Heintz, Robert W Parry

19th Edition

0324376162, 978-0324376166

More Books

Students also viewed these Accounting questions

Question

What reward will you give yourself when you achieve this?

Answered: 1 week ago