Question
The following information is for Parker Company's production: Standards: Material 3.0 feet per unit @ $4.20 per foot Labor 2.5 hours per unit @ $7.50
The following information is for Parker Company's production:
| Standards: |
|
| Material | 3.0 feet per unit @ $4.20 per foot |
| Labor | 2.5 hours per unit @ $7.50 per hour |
|
|
|
| Actual: |
|
| Production | 2,750 units produced during the month |
| Material | 8,700 feet used; 9,000 feet purchased @ $4.50 per foot |
| Labor | 7,000 direct labor hours @ $7.90 per hour |
How much is the materials quantity/usage variance? If the variance is unfavorable, enter the amount as a negative.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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
Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
