2 Using the following product information, calculate the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used Direct materials standard (4 pounds @ $25 per pound) AQ Actual Quantity SQ= Standard Quantity AP Actual Price SP Standard Price 19,700 pounds 4,700 units $ 100 per unit $ 531,900 Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. 5:42 Actual Cost 0 S 0 5 0 $ 0 + + 69 0 Standard Cost 13
2 Using the following product information, calculate the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used Direct materials standard (4 pounds @ $25 per pound) AQ Actual Quantity SQ= Standard Quantity AP Actual Price SP Standard Price 19,700 pounds 4,700 units $ 100 per unit $ 531,900 Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. 5:42 Actual Cost 0 S 0 5 0 $ 0 + + 69 0 Standard Cost 13
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:2
Using the following product information, calculate the direct materials price variance and the direct materials quantity variance.
Indicate whether each variance is favorable or unfavorable.
Actual direct materials used (AQ)
Actual units produced
Actual cost of direct materials used
Direct materials standard (4 pounds @ $25 per pound)
AQ Actual Quantity
SQ= Standard Quantity
AP
Actual Price
SP Standard Price
19,700 pounds
4,700 units
$ 100 per unit
$ 531,900
Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.
5:42
Actual Cost
0
S
0
5
0
$
0
+
+
69
0
Standard Cost
13
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