Magno Cereal Corporation uses a standard cost system for its "crunchy pickle" cereal. The materials standard for each batch of cereal produced is 1.4 pounds of pickles at a standard cost of $3.00 per pound. During the month of August, Magno purchased 78,000 pounds of pickles at a total cost of $253,500. Magno used all of these pickles to produce 60,000 batches of cereal. What is Magno's materials quantity variance for August? $1,500 Unfavorable $18,000 Favorable $19,500 Unfavorable $54,000 Unfavorable a. b. C. d.
Magno Cereal Corporation uses a standard cost system for its "crunchy pickle" cereal. The materials standard for each batch of cereal produced is 1.4 pounds of pickles at a standard cost of $3.00 per pound. During the month of August, Magno purchased 78,000 pounds of pickles at a total cost of $253,500. Magno used all of these pickles to produce 60,000 batches of cereal. What is Magno's materials quantity variance for August? $1,500 Unfavorable $18,000 Favorable $19,500 Unfavorable $54,000 Unfavorable a. b. C. d.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Magno Cereal Corporation uses a standard cost system for its "crunchy pickle" cereal. The
materials standard for each batch of cereal produced is 1.4 pounds of pickles at a standard cost
of $3.00 per pound. During the month of August, Magno purchased 78,000 pounds of pickles at
a total cost of $253,500. Magno used all of these pickles to produce 60,000 batches of cereal.
What is Magno's materials quantity variance for August?
$1,500 Unfavorable
$18,000 Favorable
$19,500 Unfavorable
$54,000 Unfavorable
a.
b.
C.
d.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fad61fb23-6772-4c68-a944-71325d2213c5%2F7463e1fb-f52e-458c-abe9-577f6886eed5%2Fb1v3log_processed.png&w=3840&q=75)
Transcribed Image Text:Magno Cereal Corporation uses a standard cost system for its "crunchy pickle" cereal. The
materials standard for each batch of cereal produced is 1.4 pounds of pickles at a standard cost
of $3.00 per pound. During the month of August, Magno purchased 78,000 pounds of pickles at
a total cost of $253,500. Magno used all of these pickles to produce 60,000 batches of cereal.
What is Magno's materials quantity variance for August?
$1,500 Unfavorable
$18,000 Favorable
$19,500 Unfavorable
$54,000 Unfavorable
a.
b.
C.
d.
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