Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

TB MC Qu. 10-72 (Algo) The following materials standards have been ... The following materials standards have been established for a particular product: Standard quantity

TB MC Qu. 10-72 (Algo) The following materials standards have been ...

The following materials standards have been established for a particular product:

Standard quantity per unit of output 6.3 pounds
Standard price $15.10 per pound

The following data pertain to operations concerning the product for the last month:

Actual materials purchased 7,650 pounds
Actual cost of materials purchased $64,780
Actual materials used in production 7,150 pounds
Actual output 890 units

The direct materials purchases variance is computed when the materials are purchased.

What is the materials quantity variance for the month?

Multiple Choice

$13,066 U

$7,550 U

$4,234 U

$23,299 U

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

More Books

Students also viewed these Accounting questions

Question

What are the challenges associated with tunneling in urban areas?

Answered: 1 week ago

Question

What are the main differences between rigid and flexible pavements?

Answered: 1 week ago

Question

What is the purpose of a retaining wall, and how is it designed?

Answered: 1 week ago

Question

How do you determine the load-bearing capacity of a soil?

Answered: 1 week ago

Question

what is Edward Lemieux effect / Anomeric effect ?

Answered: 1 week ago