Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Total Materials Variance Krumple Ine. prodaces aluminum cans. Production of 15 -ounce cans has a standard unit quantity of 4.6 cunces of aluminum per can.

image text in transcribed
Total Materials Variance Krumple Ine. prodaces aluminum cans. Production of 15 -ounce cans has a standard unit quantity of 4.6 cunces of aluminum per can. During the month of Aptil, 250.000 cans were produced using 1,350,000 ounces of aluminum, The sctual cost of aluminum was 30.19 per ounce and the standard price was 50.1 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- x roneck My wot 1. Compute the actual costs = octual quantity actual cost per unit; (AQ AP) 2. Compute the standard cost = stancard quantity (units produced standard unit quantity ) standard cost per unity ( 5 Q k5 P) 3. Subtract standard costs from the actual costs then determine if the result is fayoroble or unfoworable Review the "Hiow to Calculate kie Total Variance for Materials" 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

Auditing A Practical Approach

Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton

3rd Edition

0730364577, 978-0730364573

More Books

Students also viewed these Accounting questions

Question

Can workers be trained in ethics? How? Defend your answer.

Answered: 1 week ago

Question

What do you think of the MBO program developed by Drucker?

Answered: 1 week ago