Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q 2 a) The actual materials price (AP) was $3.50, the actual quantity (AQ) of material was 5,100 units, and the materials price variance (PV)

Q 2 a) The actual materials price (AP) was $3.50, the actual quantity (AQ) of material was 5,100 units, and the materials price variance (PV) was $1,275 unfavorable. The standard materials price (SP) is? (MARKS 4) b) Leland Manufacturing produced 3,700 units of finished product, using 15,000 pounds of raw material. Sixteen thousand pounds were purchased for $158,400. The material standards for the product are 4 pounds at $10 per pound. What was the materials price variance (PV)? (MARKS 4) c) i) Distinguish between a favorable variance and an unfavorable variance. (MARKS 2) ii) What is the key difference between a static budget and a flexible budget?

please solved clearly and write clear because I was posted other question hand written was no clear

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

Organizational Network Analysis Auditing Intangible Resources

Authors: Anna Ujwary-Gil

1st Edition

1032085215, 978-1032085210

More Books

Students also viewed these Accounting questions