Please do not give solution in image format thanku Question 3Altanta Industries manufactures gadgets. In the month of March, the companyincurred the following:Gadgets producedDirect MaterialspurchasedDirect MaterialsusedCost of DirectMaterials purchasedDirect Labor HoursActual10.10320,000pounds19.000pounds$41,8182.500hoursThe standards for production are:StandardsDirect Materials per gadget 3 lbs per gadgetCost of Direct Materials perpound$2.19 per pound18 minutes pergadget (30 hours)Direct Labor per gadgetDirect Lal 2,500hoursThe standards for production are:Direct Labor HoursDirect Materials per gadgetCost of Direct Materials perpoundDirect Labor per gadgetDirect Labor Cost pergadgetStandards3 lbs per gadget$2.19 per pound18 minutes pergadget (30 hours)$6 per gadgetWhat is the Materials Price Variance?Enter a favorable variance as a positive number. Enter an unfavorable varianceas a negative number.

Name: Please do not give solution in image format thanku Question 3Altanta I
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Description: Please do not give solution in image format thanku Question 3Altanta Industries manufactures gadgets. In the month of March, the companyincurred the following:Gadgets producedDirect MaterialspurchasedDirect MaterialsusedCost of DirectMaterials purcha

Standard costing means where standard is set for various cost element and actual cost is then…

Business

Accounting

Direct Labor Hours 2,500 hours The standards for production are: Standards Direct Materials per gadget 3 lbs per gadget Cost of Direct Materials peri pound $2.19 per pound Direct Labor per gadget Direct Labor Cost per gadget 18 minutes per gadget (.30 hours) $6 per gadget What is the Materials Price Variance? Enter a favorable variance as a positive number. Enter an unfavorable variance as a negative number.

Direct Labor Hours 2,500 hours The standards for production are: Standards Direct Materials per gadget 3 lbs per gadget Cost of Direct Materials peri pound $2.19 per pound Direct Labor per gadget Direct Labor Cost per gadget 18 minutes per gadget (.30 hours) $6 per gadget What is the Materials Price Variance? Enter a favorable variance as a positive number. Enter an unfavorable variance as a negative number.

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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