Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Melrose Corporation makes a product that uses a material with the following standards: Standard quantity 8.4 pounds per unit Standard price $6.00 per pound Standard

Melrose Corporation makes a product that uses a material with the following standards:

Standard quantity 8.4 pounds per unit
Standard price $6.00 per pound
Standard cost $50.40 per unit

The company budgeted for production of 5,800 units in September, but actual production was 5,900 units. The company used 50,210 pounds of direct material to produce this output. The company purchased 55,100 pounds of the direct material at $5.80 per pound. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for September is:

$3,770 F

$3,900 U

$3,770 U

$3,900 F

Please show all 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

Students also viewed these Accounting questions

Question

List and explain the steps in the negotiating process.

Answered: 1 week ago

Question

explain what is meant by redundancy

Answered: 1 week ago