Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Urenr!!! Please answer with detialed calculation process ASAP, thank you! The following standards have been established for a raw material used to make product 084:

Urenr!!! Please answer with detialed calculation process ASAP, thank you!

image text in transcribed
The following standards have been established for a raw material used to make product 084: Standard quantity o-F the material per unit o-F output 8.4- meters Standard price o-F the material $ 19.53 per meter The following data pertain to a recent month's operations: Actual material purchased 4,?88 meters Actual cost of material purchased $ 95,886 Actual material used in production 4,486 meters Actual output 636 units of product 084 The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? (indicate the effect of each variance by selecting \"F" for favorable, \"U\" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

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

Analytical Corporate Valuation Fundamental Analysis, Asset Pricing, And Company Valuation

Authors: Pasquale De Luca

1st Edition

331993550X, 9783319935508

More Books

Students also viewed these Accounting questions