Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Simba Company's standard materials cost per unit of output is $9.40(2.00pounds x $4.70). During July, the company purchases and uses3,080pounds of materials costing $16,632in making1,400units

Simba Company's standard materials cost per unit of output is $9.40(2.00pounds x $4.70). During July, the company purchases and uses3,080pounds of materials costing $16,632in making1,400units 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 a dollar amount rounded to 0 decimal places

select an option

Neither favorable nor unfavorable

Favorable

Unfavorable

Materials price variance$

enter a dollar amount rounded to 0 decimal places

select an option

Neither favorable nor unfavorable

Favorable

Unfavorable

Materials quantity variance$

enter a dollar amount rounded to 0 decimal places

select an option

Neither favorable nor unfavorable

Favorable

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

Accounting Information Systems Controls And Processes

Authors: Leslie Turner, Andrea B. Weickgenannt

1st Edition

0471479519, 9780471479512

More Books

Students also viewed these Accounting questions

Question

Do not get married, wait until I come, etc.

Answered: 1 week ago

Question

Do not come to the conclusion too quickly

Answered: 1 week ago

Question

Engage everyone in the dialogue

Answered: 1 week ago