Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Simba Companys standard materials cost per unit of output is $8.20 (2.00 pounds x $4.10). During July, the company purchases and uses 2,700 pounds of
Simba Companys standard materials cost per unit of output is $8.20 (2.00 pounds x $4.10). During July, the company purchases and uses 2,700 pounds of materials costing $14,580 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 | $ . | FavorableNeither favorable nor unfavorableUnfavorable | ||
Materials price variance | $ | UnfavorableFavorableNeither favorable nor unfavorable | ||
Materials quantity variance | $ | UnfavorableFavorableNeither favorable nor unfavorable |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started