Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Joy Corporation manufactures a product with the following per unit standard costs: Direct Materials 10 square yards at $6 per yard Direct Labor 12 hours

Joy Corporation manufactures a product with the following per unit standard costs: Direct Materials 10 square yards at $6 per yard Direct Labor 12 hours at $10 per hour The following information relates to actual operations: Direct materials purchased - 1000 square yards at $5 per yard Direct materials used in production - 900 square yards Direct labor cost = $10,000 Direct labor hours = 1,200 Actual output = 80 units The direct materials quantity variance is: a. $600 favorable b. $600 unfavorable c. $1000 favorable d. $1000 unfavorable.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

13th edition

978-1-119-4110, 1119411483, 9781119411017, 978-1119411482

Students also viewed these Accounting questions