(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: 15,000The company has established these standards:• Price per pound of materials: $25.00• Number of pounds of material to produce oneunit: 40What is the materials quantity variance?○ $40,000 F○ $40,000 U○ $50,000 F○ $50,000 U

Step 1: Formula Materials quantity variance = (Actual quantity - Standard quantity allowed) x…

Answered: (30) A toy company reports these cost…

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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