Matrix Food Industries uses a standard cost system to track costs related to the production of its "crispy mango" cereal. The materials standard for each batch of cereal produced is 1.6 pounds of mangoes at a standard cost of $2.50 per pound. During the month of September, Matrix purchased 90,000 pounds of mangoes at a total cost of $220,500. Matrix used all of these mangoes to produce 55,000 batches of cereal. What is Matrix's materials quantity variance for the month of September?

Matrix Food Industries uses a standard cost system to track costs related to the production of its "crispy mango" cereal. The materials standard for each batch of cereal produced is 1.6 pounds of mangoes at a standard cost of $2.50 per pound. During the month of September, Matrix purchased 90,000 pounds of mangoes at a total cost of $220,500. Matrix used all of these mangoes to produce 55,000 batches of cereal. What is Matrix's materials quantity variance for the month of September?

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter20: Inventory Management: Economic Order Quantity, Jit, And The Theory Of Constraints

Section: Chapter Questions

Problem 25P: Taylor Company produces two industrial cleansers that use the same liquid chemical input: Pocolimpio...

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