Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The standard cost of product 999 includes 2 units of direct materials at $5.70 per unit. During August, the company bought 27,600 units of materials
The standard cost of product 999 includes 2 units of direct materials at $5.70 per unit. During August, the company bought 27,600 units of materials at $5.90 and used those materials to produce 14,300 units. Calculate the total, price, and quantity variances for mate rials. (Round per unit calculations to 2 decimal places. 33. 1.25 and nal answers to 0 decimal places, 3.3. 125.) Total material variance $ v Materials price variance $ v Materials quantity variance 55 Favourable Unfavourable Neither favourable nor unfavourable
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