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Kingston Apparel reported a standard direct materials cost of $175,000 for its production in the current period. It had a $3,500 favorable price variance and a $2,000 unfavorable quantity variance. What was the actual direct materials cost? a) $174,500 b) $176,000 c) $173,500 d) $172,500

Kingston Apparel reported a standard direct materials cost of $175,000 for its production in the current period. It had a $3,500 favorable price variance and a $2,000 unfavorable quantity variance. What was the actual direct materials cost? a) $174,500 b) $176,000 c) $173,500 d) $172,500

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 9EB: Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured...
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Kingston Apparel reported a standard direct materials cost of $175,000 for its production in the current period. It had a $3,500 favorable price variance and a $2,000 unfavorable quantity variance. What was the actual direct materials cost? a) $174,500 b) $176,000 c) $173,500 d) $172,500
Transcribed Image Text:Kingston Apparel reported a standard direct materials cost of $175,000 for its production in the current period. It had a $3,500 favorable price variance and a $2,000 unfavorable quantity variance. What was the actual direct materials cost? a) $174,500 b) $176,000 c) $173,500 d) $172,500
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