Question
Lyle Inc. produced 3,700 units of finished product, using 15,000 pounds of raw material. Lyle purchased 16,000 pounds for $158,400. The material standards for the
Lyle Inc. produced 3,700 units of finished product, using 15,000 pounds of raw material. Lyle purchased 16,000 pounds for $158,400. The material standards for the product are 4 pounds at $10 per pound. What are the materials quantity variance and materials price variance, respectively?
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Auditing and Assurance services an integrated approach
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
14th Edition
133081605, 132575957, 9780133081602, 978-0132575959
