Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Morro Bay Surfboards manufactures fib erglass surfboards and has set the following direct material standards for each surfboard produced: standard price direct materials $3.25 per

Morro Bay Surfboards manufactures fib erglass surfboards and has set the following direct material standards for each surfboard produced: standard price direct materials $3.25 per pound standard quantity 9 pounds per unit At September 1, Morro Bay Surfboards had 3,600 pounds of direct materials in its inventory. Du ring September, Morro Bay Surfboards paid $740,860 to purch ase direct materials. At September 30, Morro Bay Surfboard s' direct materials inventory consisted of 8,700 pounds o f direct materials. During September, 25,100 surfboards w ere produced. For the month of September, Morro Bay Sur fboards reported a $42,575 favorable direct material qua ntity variance. Calculate Morro Bay Surfboards' direc t material price variance for September. If the variance is unfavorable, simpl y enter your answer as a number (i.e., 5000). If the vari ance is favorable, place a minus sign in front of your a nswer (i.e., -5000).
image text in transcribed
Morro Bay Surfboards manufactures fib erglass surfboards and has set the following direct material standards for each surfboard produced: standard quantity standard price direct materials 9 pounds per unit $3.25 per pound At September 1, Morro Bay Surfboards had 3,600 pounds of direct materials in its inventory. Du ring September, Morro Bay Surfboards paid $740,860 to purch ase direct materials. At September 30, Morro Bay Surfboard s direct materials inventory consisted of 8,700 pounds 0 f direct materials. During September, 25,100 surfboards w ere produced. For the month of September, Morro Bay Sur fboards reported a $42,575 favorable direct material qua ntity variance. Calculate Morro Bay Surfboards' direc t material price variance for September. If the variance is unfavorable, simpl y enter your answer as a number (i.e., 5000). If the vari ance is favorable, place a minus sign in front of your a nswer (i.e., -5000)

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

The Classification And Coding Of Accounting Information

Authors: R. Fox

2nd Edition

0948036885, 978-0948036880

More Books

Students also viewed these Accounting questions

Question

2. Do you find change a. invigorating? b. stressful? _______

Answered: 1 week ago

Question

10. Are you a. a leader? b. a follower? _______

Answered: 1 week ago