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need assistance in calculating what the material quantity variance for march be if 185,000 pounds were purchased and 160,000 pounds were used. Required information [The
need assistance in calculating what the material quantity variance for march be if 185,000 pounds were purchased and 160,000 pounds were used.
Required information [The following information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor hours and its standard cost card per unit is as follows: Direct materials: 5 pounds at $8 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at $9 per hour Total standard cost per unit $ 40 45 27 $112 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 26,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $6.50 per pound. All of this materlal was used in producten. b. Direct laborers worked 70.000 hours at a rate of $16 per hout, c. Total variable manufacturing overhead for the month was $655,200. 6. If Preble had purchased 185,000 pounds of materials at $6.50 per pound and used 160,000 pounds in production, what would be the materials quantity variance for March? (Indicate the effect of ench variance by selecting for favorable. "U" for unfavorable and "None" for no effect i... zero variance.). Input all amounts as positive values.)
need assistance in calculating what the material quantity variance for march be if 185,000 pounds were purchased and 160,000 pounds were used.
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