Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Total Materials Variance Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 43 ounces of aluminum per con. During

image text in transcribed
Total Materials Variance Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 43 ounces of aluminum per con. During the month of April, 250,000 cans were produced using 1,100,000 ounces of aluminum. The actual cost of aluminum was $0.18 per ounce and the standard price was $0.08 per ounce. There are no beginning or ending inventories of aluminum Required: Calculate the total variance for aluminum for the month of April. Enter amount as a positive number and select Favorable or Unfavorable. Unfavorable 1. Compute the actual costs actual quantity actual cost per unit: (AQ AP) 2. Compute the standard cost standard quantity (units produced x standard unit quantity) standard colt per unit (SQSP) 3. Subtract standard costs from the actual conts then determine if the result is favorable or unfavorable Review the "How to Calculate the Total Variance for Materiais example in your text

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

Step: 3

blur-text-image

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

The Brazilian Economy Confronting Structural Challenges

Authors: Edmund Amann

1st Edition

0367245272, 9780367245276

More Books

Students also viewed these Accounting questions

Question

Define statistical thinking.

Answered: 1 week ago

Question

What is the required credits to prepare for CPA?

Answered: 1 week ago