Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

The following materials standards have been established for a particular product: Standard quantity per unit of output 6 . 4 pounds Standard price $ 1

The following materials standards have been established for a particular product:
Standard quantity per unit of output 6.4 pounds
Standard price $15.20 per pound
The following data pertain to operations concerning the product for the last month:
Actual materials purchased 7,800 pounds
Actual cost of materials purchased $64,880
Actual materials used in production 7,300 pounds
Actual output 900 units
The direct materials purchases variance is computed when the materials are purchased.
What is the materials quantity variance for the month?

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_2

Step: 3

blur-text-image_3

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

Accounting For Managers Interpreting Accounting Information For Decision Making

Authors: Paul M. Collier, Sandy M. Kizan, Eckhard Schumann

1st Canadian Edition

1118037960, 9781118037966

More Books

Students explore these related Accounting questions