A furniture company uses sunmica tops for tables. It provides the following data: Standard quantity for sunmica per table 4 sq. ft Standard price per sq. ft of sunmica Actual period of tables Sunmica actually used Actual purchase price per sq. ft Calculate the material variances. AED 5 1,000 4,300 sq. ft AED 5.50

A furniture company uses sunmica tops for tables. It provides the following data: Standard quantity for sunmica per table 4 sq. ft Standard price per sq. ft of sunmica Actual period of tables Sunmica actually used Actual purchase price per sq. ft Calculate the material variances. AED 5 1,000 4,300 sq. ft AED 5.50

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter18: Pricing And Profitability Analysis

Section: Chapter Questions

Problem 32P: Sulert, Inc., produces and sells gel-filled ice packs. Sulerts performance report for April follows:...

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eBook Show Me How Print Item Direct Materials Variances The following data relate to the direct materials cost for the production of 1,800 automobile tires: Actual: 53,600 lb. at $2.00 Standard: 52,500 lb. at $2.05 a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Price variance $fill in the blank 1 Quantity variance $fill in the blank 3 Total direct materials cost variance $fill in the blank 5 b. The direct materials price variance should normally be reported to the . If lower amounts of direct materials had been used because of production efficiencies, the variance would be reported to the . If the favorable use of raw materials had been caused by the purchase of higher-quality raw materials, the variance should be reported to the
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