Question
*UPVOTE GUARANTED* Charlatte Company has determined that the standard cost to manufacture its product includes 2 units of direct materials at $6.00 per unit. During
*UPVOTE GUARANTED*
Charlatte Company has determined that the standard cost to manufacture its product includes 2 units of direct materials at $6.00 per unit. During January, the company purchased 51,200 units of direct materials at a cost of $5.90 per unit and used 51,200 units of direct materials to produce 23,900 units of its product. Calculate the total materials variance, and the price and quantity variances.
Materials Variance | $ | 1.Neither favourable nor unfavourable 2.Unfavourable 3.Favourable | |
Materials Price Variance | $ | 1.Neither favourable nor unfavourable 2.Favourable 3.Unfavourable | |
Materials Quantity Variance | $ | 1.Unfavourable 2.Neither favourable nor unfavourable 3.Favourable |
THERE ARE OPTIONS GIVEN FOR EACH PART AND WE HAVE TO CHOOSE WHETHER IT IS 1.UNFAVOURABLE 2.NEITHER FAVOURABLE OR UNFAVOURABLE OR 3.FAVOURABLE AND ALSO FIND OUT THE MATERIALS VARIANCE ,MATERIALS PRICE VARIANCE AND MATERIALS QUANTITY VARIANCE
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