Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need help Question 3 1 pts Page 453, PB 5 Illinois Company is a medium-sized company that makes dresses. During the month of June, 8,575

need help image text in transcribed
image text in transcribed
image text in transcribed
Question 3 1 pts Page 453, PB 5 Illinois Company is a medium-sized company that makes dresses. During the month of June, 8,575 dresses were made. All material purchases were used to make the dresses. The company had this information: standard per dress of 6 yards of material at $6.20 per yard. The actual quantity was 52,000 yards at a cost of $325,520. Compute the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance. What is the Total Materials Variance? (enter positive for favorable, negative for unfavorable). Question 4 1 pts Page 453, PB 6 Corolla Manufacturing has a standard cost for steel of $20 per pound for a product that uses 4 pounds of steel. During September, Corolla purchased and used 4,200 pounds of steel to make 1,040 units. They paid $20.75 per pound for the steel. Compute the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance for the month of September. What is the price variance? (enter positive for favorable, negative for unfavorable). Question 5 1 pts Page 453, PB 6 Corolla Manufacturing has a standard cost for steel of $20 per pound for a product that uses 4 pounds of steel. During September, Corolla purchased and used 4,200 pounds of steel to make 1,040 units. They paid $20.75 per pound for the steel. Compute the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance for the month of September. What is the use/quantity variance? (enter positive for favorable, negative for unfavorable)

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_2

Step: 3

blur-text-image_3

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

Environmental Health And Safety Audits

Authors: Lawrence B. Cahill

8th Edition

0865878250, 978-0865878259

More Books

Students also viewed these Accounting questions

Question

What is service level? LO.1

Answered: 1 week ago

Question

1 What are the dimensions used in Hofstedes model of culture?

Answered: 1 week ago