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Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $2 per lb.) $ 8 per finished unit Actual direct
Tercer reports the following for one of its products.
Direct materials standard (4 lbs. @ $2 per lb.) | $ | 8 | per finished unit | |
Actual direct materials used (AQ) | 300,000 | lbs. | ||
Actual finished units produced | 61,000 | units | ||
Actual cost of direct materials used | $ | 525,000 | ||
AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct materials price and quantity variances and classify each as favorable or unfavorable
Compute the direct materials price and quantity variances and classify each as favorable or unfavorable (X Answer Is not complete. Standard Cost Actual Cost SP X SQ SP AQ AP AQ X X 2.00 $ 0 Direct materials price variance Direct materials quantity variance Total direct materials variance
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