Please do not give solution in image format thanku 4. What is the materials quantity variance for March?Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance.). Input all amounts as positive values.Materials quantity variance5. If Preble had purchased 188,000 pounds of materials at $720 per pound and used 170,000 pounds in production, what would bethe materials price variance for March?Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance.). Input all amounts as positive values.Materials price variance Required information[The following information applies to the questions displayed below]Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on directlabor-hours and its standard cost card per unit is as followsDirect materials: 6 pounds at 58 per poundDirect labor: 4 hours at $13 per hourVarlable overhead: 4 hours at $5 per hourTotal standard cost per unit$485220130The planning budget for March was based on producing and sellino 20,000 units. However, during March the companyactually produced and sold 25.500 units and incurred the following costsPurchased 170.000 pounds of raw materials at a cost of $7.20 per bounc All of this material was used in productionb Direct laborers worked 73.000 hours at a rate of $14 pecnoutc Total variable manufacturing overhead for the month was $427050

DIRECT MATERIALS COST VARIANCEDirect materials cost variance is the difference between the actual…

4. What is the materials quantity variance for March? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values. Materials quantity variance 5. If Preble had purchased 188,000 pounds of materials at $720 per pound and used 170,000 pounds in production, what would be the materials price variance for March? Note: Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values. Materials price variance

4. What is the materials quantity variance for March? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values. Materials quantity variance 5. If Preble had purchased 188,000 pounds of materials at $720 per pound and used 170,000 pounds in production, what would be the materials price variance for March? Note: Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values. Materials price variance

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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