Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds per unit. The standard price is $5.5 per pound. If 3,500 units used 37,700 pounds, which were purchased at $5.61 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance Unfavorable b. Direct materials quantity variance Favorable c. Direct materials cost variance Favorable

Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds per unit. The standard price is $5.5 per pound. If 3,500 units used 37,700 pounds, which were purchased at $5.61 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance Unfavorable b. Direct materials quantity variance Favorable c. Direct materials cost variance Favorable

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Description: Direct Materials VariancesBellingham Company produces a product that requires 11 standard pounds per unit. The standard price is $5.5 per pound. If 3,500 units used 37,700 pounds, whichwere purchased at $5.61 per pound, what is the direct materials

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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