Hushovd Manufacturing has collected the following data for its Storm Guard product line: Cost Component Direct material standard Direct materials standard cost Actual direct materials used Actual finished goods produced Actual material purchased cost Actual quantity of direct material used Standard/Actual Values 8 pounds per unit $0.90 per pound 30,000 pounds 3,800 units $1.00 per pound 28,000 pounds What is the Direct Material Price Variance?

Hushovd Manufacturing has collected the following data for its Storm Guard product line: Cost Component Direct material standard Direct materials standard cost Actual direct materials used Actual finished goods produced Actual material purchased cost Actual quantity of direct material used Standard/Actual Values 8 pounds per unit $0.90 per pound 30,000 pounds 3,800 units $1.00 per pound 28,000 pounds What is the Direct Material Price Variance?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 12EA: Acme Inc. has the following information available: A. Compute the material price and quantity, and...

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