Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Simba Companys standard materials cost per unit of output is $9.45 (2.10 pounds x $4.50). During July, the company purchases and uses 3,234 pounds of

Simba Companys standard materials cost per unit of output is $9.45 (2.10 pounds x $4.50). During July, the company purchases and uses 3,234 pounds of materials costing $17,464 in making 1,400 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.)

image text in transcribed

Simba Company's standard materials cost per unit of output is $9.45 (2.10 pounds x $4.50) During July, the company purchases and uses 3,234 pounds of materials costing $17A64 in making 1 400 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 Materials price variance Materials quantity variance

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

Internal Control Anti Fraud Program Design For The Small Business

Authors: Steve Dawson

1st Edition

1119065070, 978-1119065074

More Books

Students also viewed these Accounting questions