Crane Company's standard materials cost per unit of output is $10.60 (2.00 pounds x $5.30). During July, the company purchases and uses 3,200 pounds of materials costing $18.880 in making 1.500 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 $ Unfavorable Unfavorable Unfavorable

Crane Company's standard materials cost per unit of output is $10.60 (2.00 pounds x $5.30). During July, the company purchases and uses 3,200 pounds of materials costing $18.880 in making 1.500 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 $ Unfavorable Unfavorable Unfavorable

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Crane Company's standard materials cost per unit of output is $10.60 (2.00 pounds x $5.30). During July, the company purchases and
uses 3,200 pounds of materials costing $18,880 in making 1,500 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 $
Unfavorable
Unfavorable:
Unfavorable

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