BE11.4 (LO 2), AP Simba Company's standard materials cost per unit of output is $10 (2 pounds x $5). During July, the company purchases and uses 3,200 pounds of materials costing $16,192 in making 1,500 units of finished product. Compute the total, price, and quantity materials variances.

BE11.4 (LO 2), AP Simba Company's standard materials cost per unit of output is $10 (2 pounds x $5). During July, the company purchases and uses 3,200 pounds of materials costing $16,192 in making 1,500 units of finished product. Compute the total, price, and quantity materials variances.

Name: Compute direct materials variances.BE11.4 (LO 2), AP Simba Company's
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Description: Compute direct materials variances.BE11.4 (LO 2), AP Simba Company's standard materials cost per unit of output is $10 (2 pounds x $5). During July, the companypurchases and uses 3,200 pounds of materials costing $16,192 in making 1,500 units of fin

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Data
Standard price	SP	$ 5.00	per unit
Standard quantity per unit		2	units
Standard quantity for Actual Output	SQ	3,000.00	pounds
Actual Output		1,500.00	units
Actual Quantity used	AQ	3,200.00	units
Actual Price of Material($16,192/3,200)	AP	$ 5.06	per unit