E23-5 The standard cost of Product B manufactured by Pharrell Company includes three units of direct materials at $5.00 per unit. During June, 29,000 units of direct materials are purchased at a cost of $4.70 per unit, and 29,000 units of direct materials are used to produce 9,400 units of Product B. Instructions (a) Compute the total materials variance and the price and quantity variances. (b) Repeat (a), assuming the purchase price is $5.15 and the quantity purchased and used is 28,000 units.

E23-5 The standard cost of Product B manufactured by Pharrell Company includes three units of direct materials at $5.00 per unit. During June, 29,000 units of direct materials are purchased at a cost of $4.70 per unit, and 29,000 units of direct materials are used to produce 9,400 units of Product B. Instructions (a) Compute the total materials variance and the price and quantity variances. (b) Repeat (a), assuming the purchase price is $5.15 and the quantity purchased and used is 28,000 units.

Name: E23-5 The standard cost of Product B manufactured by Pharrell Company
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Description: E23-5 The standard cost of Product B manufactured by Pharrell Company includes threeunits of direct materials at $5.00 per unit. During June, 29,000 units of direct materialsare purchased at a cost of $4.70 per unit, and 29,000 units of direct mater

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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