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PLEASE HELP WILL THUMBS UP!!! Newport Sports produces Tank tops. The company developed the following standard costs for a Tank top: Cost per Metres Metre
PLEASE HELP WILL THUMBS UP!!!
Newport Sports produces Tank tops. The company developed the following standard costs for a Tank top: Cost per Metres Metre $1.40 Total Cost $1.75 Direct materials 1.25 The actual results for the year are: Units produced 40,000 Direct materials purchased and used (metres) 60,000 Direct materials cost per metre $1.20 Required: Calculate the direct material price and usage (also called efficiency) variances and use your solution to answer the following questions. NOTE: Please enter all variances as positive numbers. The amount of the direct material price variance is $ A Indicate if the direct material price variance is favourable (enter the letter F) or unfavourable (enter the letters UF). A The amount of the direct material usage variance (also called efficiency variance) is $. A/ Indicate if the direct material usage variance is favourable (enter the letter F) or unfavourable (enter the letters UF) Step by Step Solution
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