13) Perez, Inc recently completed 56,000 units of a product four pounds of direct material per finished unit. The standard price of the direct material was S850 per pound If the finm purchased and consumed 228,000 pounds in manufacturing (cest S1,881,000), the direct-material quantity variance would be fipured as A) S34.000U. B) S57,000 C) S34,000F D) $57,000U. E) None of the answers is correct

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Topic Video
Question
13) Perez, Inc recently completed S6,000 units of a product that
four pounds of direct material per finished unit. The standard price of the direct
material was S8.50 per pound If the finm purchased and consumed 228,000 pounds in
manufacturing (cost S1,881,000), the direct-material quantity variance would be
figured as
A) S34.000U.
B) S57,000F
C) S34,000F
D) $57,000U.
E) None of the answers is correct
Transcribed Image Text:13) Perez, Inc recently completed S6,000 units of a product that four pounds of direct material per finished unit. The standard price of the direct material was S8.50 per pound If the finm purchased and consumed 228,000 pounds in manufacturing (cost S1,881,000), the direct-material quantity variance would be figured as A) S34.000U. B) S57,000F C) S34,000F D) $57,000U. E) None of the answers is correct
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Performance measurements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education