Coronado Company's standard materials cost per unit of output is $8.80 (2.00 pounds x $4.40). During July, the company purchases and uses 2,420 pounds of materials costing $13,068 in making 1,100 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 52.) Total materials variance Materials price variance $ $ Materials quantity variance $

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Coronado Company's standard materials cost per unit of output is $8.80 (2.00 pounds x $4.40). During July, the company purchases
and uses 2,420 pounds of materials costing $13,068 in making 1,100 units of finished product.
Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0
decimal places, e.g. 52.)
Total materials variance
Materials price variance
Materials quantity variance
$
$
$
Transcribed Image Text:Coronado Company's standard materials cost per unit of output is $8.80 (2.00 pounds x $4.40). During July, the company purchases and uses 2,420 pounds of materials costing $13,068 in making 1,100 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.) Total materials variance Materials price variance Materials quantity variance $ $ $
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