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(30) A toy company reports these cost data: Actual Results • Total cost of purchasing material: $180,000 • Number of material pounds used in production: 38,000 ⚫Number of units produced: 1,000 • Number of material pounds purchased: 15,000 The company has established these standards: • Price per pound of materials: $25.00 • Number of pounds of material to produce one unit: 40 What is the materials quantity variance? ○ $40,000 F ○ $40,000 U ○ $50,000 F ○ $50,000 U

(30) A toy company reports these cost data: Actual Results • Total cost of purchasing material: $180,000 • Number of material pounds used in production: 38,000 ⚫Number of units produced: 1,000 • Number of material pounds purchased: 15,000 The company has established these standards: • Price per pound of materials: $25.00 • Number of pounds of material to produce one unit: 40 What is the materials quantity variance? ○ $40,000 F ○ $40,000 U ○ $50,000 F ○ $50,000 U

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter2: Building Blocks Of Managerial Accounting
Section: Chapter Questions
Problem 5EA: Rose Company has a relevant range of production between 10,000 and 25.000 units. The following cost...
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(30) A toy company reports these cost data: Actual Results • Total cost of purchasing material: $180,000 • Number of material pounds used in production: 38,000 ⚫Number of units produced: 1,000 • Number of material pounds purchased: 15,000 The company has established these standards: • Price per pound of materials: $25.00 • Number of pounds of material to produce one unit: 40 What is the materials quantity variance? ○ $40,000 F ○ $40,000 U ○ $50,000 F ○ $50,000 U
Transcribed Image Text:(30) A toy company reports these cost data: Actual Results • Total cost of purchasing material: $180,000 • Number of material pounds used in production: 38,000 ⚫Number of units produced: 1,000 • Number of material pounds purchased: 15,000 The company has established these standards: • Price per pound of materials: $25.00 • Number of pounds of material to produce one unit: 40 What is the materials quantity variance? ○ $40,000 F ○ $40,000 U ○ $50,000 F ○ $50,000 U
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