Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Waterway Company's standard materials cost per unit of output is $8.40 (2.10 pounds x $4.00). During July, the company purchases and uses 2,310 pounds

image

Waterway Company's standard materials cost per unit of output is $8.40 (2.10 pounds x $4.00). During July, the company purchases and uses 2,310 pounds of materials costing $12,243 in making 1,000 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 52.) Total materials variance DA +A Materials price variance Materials quantity variance tA 2600 Unfavorable 3000 i Unfavorable 1200 Unfavorable > >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the total price and quantity materials variances we need to compare the actual material... 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

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

More Books

Students also viewed these Accounting questions

Question

Find each product. (8 m)( + m)

Answered: 1 week ago