Consider the following data for a manufacturing company. Compute the price variance for materials. Direct Direct Materials Labor Standard inputs allowed for actual output * Standard $59,000 $95,000 prices Costs incurred $58,000 $100,000 Actual inputs Standard prices $61,000 $98,000 a. $1,000 favorable b. $2,000 unfavorable c. $3,000 unfavorable d. $2,000 favorable e. $1,000 unfavorable f. $3,000 favorable
Consider the following data for a manufacturing company. Compute the price variance for materials. Direct Direct Materials Labor Standard inputs allowed for actual output * Standard $59,000 $95,000 prices Costs incurred $58,000 $100,000 Actual inputs Standard prices $61,000 $98,000 a. $1,000 favorable b. $2,000 unfavorable c. $3,000 unfavorable d. $2,000 favorable e. $1,000 unfavorable f. $3,000 favorable
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 9DQ: At the end of the period, the factory overhead account has a credit balance of 10,000. (a) Is the...
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