GB Corporation uses a standard cost system to collect costs related to the production of its "crunchy pickle" cereal. The pickle (materials) standards for each batch of cereal produced are 1.4 pounds of pickles at a standard cost of P3.00 per pound. During the month of August, GB purchased 78,000 pounds of pounds at a total cost of P253,500. GB used all of these pickles to produce 60,000 batches of cereal. What is GB's materials quantity variance for the month of August? * P54,000 unfavorable P18,000 favorable P19,500 unfavorable P1,500 unfavorable

GB Corporation uses a standard cost system to collect costs related to the production of its "crunchy pickle" cereal. The pickle (materials) standards for each batch of cereal produced are 1.4 pounds of pickles at a standard cost of P3.00 per pound. During the month of August, GB purchased 78,000 pounds of pounds at a total cost of P253,500. GB used all of these pickles to produce 60,000 batches of cereal. What is GB's materials quantity variance for the month of August? * P54,000 unfavorable P18,000 favorable P19,500 unfavorable P1,500 unfavorable

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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