Question
KT Inc. has the following direct materials standard to manufacture one Widget: 1.5 pounds per Widget at $4.00 per pound Last week, 1,700 pounds of
KT Inc. has the following direct materials standard to manufacture one Widget:
1.5 pounds per Widget at $4.00 per pound
Last week, 1,700 pounds of materials were purchased and used to make 1,000 Widgets. The materials cost a total of $6,630.
How many pounds of materials should KT have used to make 1,000 Widgets?
What is KT's materials quantity variance for the week was:
What is KT's materials price variance for the week was:
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
