Question
Materials Variances (LO3) North Wind manufactures decorative weather vanes that have a standard materials cost of two pounds of raw materials at $1.50 per pound.
Materials Variances (LO3)
North Wind manufactures decorative weather vanes that have a standard materials cost of two pounds of raw materials at $1.50 per pound. During September 5,000 pounds of raw materials costing $1.75 per pound were used in making 2,400 weather vanes.
Required
Determine the materials price and quantity variance.
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Financial Accounting for Decision Makers
Authors: Peter Atrill, Eddie McLaney
6th Edition
273763451, 273763458, 978-0273763451
