Canvas Creations' cost formula for its materials cost is $1,250 per month plus $22 per canvas. For the month of October, the company planned activity for 520 canvases, but the actual level of activity was 510 canvases. The actual materials cost for the month was $12,300. What is the variance for materials cost in October?

Canvas Creations' cost formula for its materials cost is $1,250 per month plus $22 per canvas. For the month of October, the company planned activity for 520 canvases, but the actual level of activity was 510 canvases. The actual materials cost for the month was $12,300. What is the variance for materials cost in October?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 7PB: Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid...

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