Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PA 5 . LO 8 . 2 Ed Co . manufactures two types of O rings, large and small. Both rings use the same material

PA5. LO 8.2 Ed Co. manufactures two types of O rings, large and small. Both rings use
the same material but require differen amounts. Standard materials for both are shown.
At the beginning of the month, Edve Co. bought 25,000 feet of rubber for $6,875. The company made 3,000 large O rings and 4,000 small O rings. The company used 14,500 feet of rubber.
A. What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance?
B. If they bought 10,000 connectors costing $310, what would the direct materials price variance be for the connectors?
C. If there was an unfavorable direct materials price variance of $125, how much did they pay per foot for the rubber?
image text in transcribed

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

Accounting For Inventory

Authors: Steven M. Bragg

4th Edition

1642210714, 9781642210712

More Books

Students also viewed these Accounting questions

Question

How has technology impacted supply chain management?

Answered: 1 week ago

Question

What can Chandra do to correct her mistake?

Answered: 1 week ago