The following materials variance analysis was performed for Brookman. Requirements 1. Record Brookman's direct materials journal entries.

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The following materials variance analysis was performed for Brookman.

Actual Price Standard Price Standard Price Standard Quantity Allowed $0.30 x 7,100 = $2,130 Actual Quantity $0.70 x 7,50

Requirements
1. Record Brookman's direct materials journal entries.
2. Explain what management will do with this varianceinformation.

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Financial and Managerial Accounting

ISBN: 978-0132497978

3rd Edition

Authors: Horngren, Harrison, Oliver

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Question Posted: Dec 16, 2011 03:42 AM

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The following materials variance analysis was performed for Brookman. Requirements 1. Record Brookman's direct materials journal entries.

Question:

Actual Price Standard Price Standard Price Standard Quantity Allowed $0.30 x 7,100 = $2,130 Actual Quantity $0.70 x 7,500 = $ 5,250 Actual Quantity $0.30 x 7,500 = $2,250 Efficiency Variance $120 U Price Variance $3,000 U

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