Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Last month, Talley Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. LOADING... (Click the icon

Last month,

Talley

Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control.

LOADING...

(Click the icon to view the table.)

Complete the following table.

(Round your answers to two decimal places.)

Medium

Direct materials information

speed bump

Standard pounds per unit

15

Standard price per pound

$1.00

Actual quantity purchased and used per unit

Actual price paid for material per pound

$1.80

Direct materials price variance

$1,120

U

Direct materials quantity variance

$100

F

Total direct material variance

Number of units produced

100

Large

speed bump

$1.80

16

$2.10

$1,920

U

$480

U

400

image text in transcribed

Last month, Talley Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control Click the icon to view the table.) Complete the following table. Data Table Medium speed Large speed bump bump 15 ? $ 1.00 $ 1.80 ? 16 Direct materials information Standard pounds per unit. Standard price per pound. Actual quantity purchased and used per unit Actual price paid for material per pound Direct materials price variance Direct materials quantity variance Total direct material variance Number of units produced $ 2.10 $1,920 U 1.80 $ $1,120 U 100 F ? ? $480 U 400 100 Print Done

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

Students also viewed these Accounting questions

Question

Exercise 3 (1 mark for each part). Fix times to

Answered: 1 week ago