Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Materials Variances Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.4 ounces of aluminum per can. During the

image text in transcribed
Materials Variances Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.4 ounces of aluminum per can. During the month of April, 295,000 cans were produced using 1,257,000 ounces of aluminum. The actual cost of aluminum was $0.18 per ounce and the standard price was $0.06 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the materials price and usage variances using the columnar and formula approaches. Enter amounts as positive numbers and select Favorable or Unfavorable. Materials Price Variance $ X Unfavorable Material Usage Variance X Unfavorable X Feedback Check My Work

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

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

Auditing The Art and Science of Assurance Engagements

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones

13th Canadian edition

133405508, 978-0133405507

More Books

Students also viewed these Accounting questions