Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jugo Company produces apple juice sold in gallons. Recently, the company adopted the following material standard for one gallon of its apple juice: Direct materials

image text in transcribed
Jugo Company produces apple juice sold in gallons. Recently, the company adopted the following material standard for one gallon of its apple juice:
Direct materials 128oz. @ $0.03=$3.84
During the first week of operation, the company experienced the following results:
a. Gallon units produced: 24,000.
b. Ounces of materials purchased and used: 2,810,000 ounces at $0.045.
c. No beginning or ending inventories of raw materials.
Required:
Note: Enter favorable values as negative numbers. Enter unfavorable values as positive numbers.
Compute the materials price variance.
x Unfavorable vv
Compute the materials usage variance.
x Favorable v
x gallons
What was the actual price paid per ounce of materials? Round your answer to the nearest cent.
per ounce
image text in transcribed

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_2

Step: 3

blur-text-image_3

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 A Career Approach

Authors: Cathy J. Scott

13th edition

1337280569, 978-1337607773, 1337607770, 978-1337516525, 133751652X, 978-1337668026, 978-1337280563

More Books

Students also viewed these Accounting questions