Question
The following data relate to direct materials cost for December: Actual costs - $7.00 per pound Standard costs - $7.75 per pound 12,000 pounds of
The following data relate to direct materials cost for December:
Actual costs - $7.00 per pound
Standard costs - $7.75 per pound
12,000 pounds of material were purchased and 10,000 pounds of material were used. Only 9,500 pounds of material should have been used for production purposes.
What is the materials quantity variance?
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
Auditing And Assurance Services
Authors: David Ricchiute
7th Edition
0324117760, 978-0324117769
