H1.Answer b please The standard cost of product B manufactured by Splish Company includes 3 units of direct materials at $5.35 per unit. During June,the company purchases 29,000 units of direct materials at a cost of $5.03 per unit and uses 29,000 units of direct materials to produce9,500 units of product B.(a)Your answer is correct.Calculate the materials variance, and the price and quantity variances.Materials varianceMaterials price variance$$Materials quantity variance $6,605i9,280 i2,675 iFavourableFavourableUnfavourable (b)Calculate the materials variance, and the price and quantity variances, assuming the purchase price is $5.51 and the quantitypurchased and used is 28,000 units.Materials varianceMaterials price variance$$Materials quantity variance $LA

it is important to consider the role of variance in cost-benefit analysis and to carefully assess…

Calculate the materials variance, and the price and quantity variances, assuming the purchase price is $5.51 and the quantity purchased and used is 28,000 units. Materials variance Materials price variance Materials quantity variance LA LA

Calculate the materials variance, and the price and quantity variances, assuming the purchase price is $5.51 and the quantity purchased and used is 28,000 units. Materials variance Materials price variance Materials quantity variance LA LA

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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Question

H1.

Answer b please

The standard cost of product B manufactured by Splish Company includes 3 units of direct materials at $5.35 per unit. During June,
the company purchases 29,000 units of direct materials at a cost of $5.03 per unit and uses 29,000 units of direct materials to produce
9,500 units of product B.
(a)
Your answer is correct.
Calculate the materials variance, and the price and quantity variances.
Materials variance
Materials price variance
$
$
Materials quantity variance $
6,605
i
9,280 i
2,675 i
Favourable
Favourable
Unfavourable

(b)
Calculate the materials variance, and the price and quantity variances, assuming the purchase price is $5.51 and the quantity
purchased and used is 28,000 units.
Materials variance
Materials price variance
$
$
Materials quantity variance $
LA

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