47 Turrubiates Corporation makes a product that uses a material with the following standards: Standard quantity 8.1 liters per unit Standard price $ 2.60 per liter $21.06 per unit Standard cost The company budgeted for production of 3,900 units in April, but actual production was 4,000 units. The company used 33,300 liters of direct material to produce this output. The company purchased 20,200 liters of the direct material at $2.70 per liter. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for April is: Multiple Choice $2,340 U 4

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Question
The materials quantity variance for April is:
Multiple Choice
$2,340 U
$2,430 F
$2,340 F
$2,430 U
Transcribed Image Text:The materials quantity variance for April is: Multiple Choice $2,340 U $2,430 F $2,340 F $2,430 U
47
Turrubiates Corporation makes a product that uses a material with the following standards:
Standard quantity 8.1 liters per unit
Standard price $ 2.60 per liter
Standard cost $21.06 per unit
The company budgeted for production of 3,900 units in April, but actual production was 4,000 units. The company used 33,300 liters of
direct material to produce this output. The company purchased 20,200 liters of the direct material at $2.70 per liter.
The direct materials purchases variance is computed when the materials are purchased.
The materials quantity variance for April is:
Multiple Choice
$2,340 U
4
Transcribed Image Text:47 Turrubiates Corporation makes a product that uses a material with the following standards: Standard quantity 8.1 liters per unit Standard price $ 2.60 per liter Standard cost $21.06 per unit The company budgeted for production of 3,900 units in April, but actual production was 4,000 units. The company used 33,300 liters of direct material to produce this output. The company purchased 20,200 liters of the direct material at $2.70 per liter. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for April is: Multiple Choice $2,340 U 4
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Budgeting
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