Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Simba Companys standard materials cost per unit of output is $10.00 (2.00 pounds x $5.00). During July, the company purchases and uses 3,200 pounds of

Simba Companys standard materials cost per unit of output is $10.00 (2.00 pounds x $5.00). During July, the company purchases and uses 3,200 pounds of materials costing $16,192 in making 1,500 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.)

Total materials variance

$enter your answer in dollars rounded to 0 decimal places

select a variance type FavorableNeither favorable nor unfavorableUnfavorable

Materials price variance

$enter your answer in dollars rounded to 0 decimal places

select a variance type UnfavorableFavorableNeither favorable nor unfavorable

Materials quantity variance

$enter your answer in dollars rounded to 0 decimal places

select a variance type Neither favorable nor unfavorableFavorableUnfavorable

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

Management And Cost Accounting Student Manual Free Tracked Delivery

Authors: Colin Drury, Mike Tayles

1st Edition

9781473773622

More Books

Students also viewed these Accounting questions