The direct material quantity variance Morrison Industries manufactures wood polish. Thestandard direct materials quantity is 0.60 pounds perbottle at a cost of $2.50 per pound. The actual usagefor the production of 40,000 bottles was 0.65 poundsper bottle at an actual cost of $2.45 per pound.Calculate the direct materials price variance and thedirect materials quantity variance.

Explanation of Direct Materials Price Variance:Direct Materials Price Variance measures the…

Answered: Morrison Industries manufactures wood…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 5PA: Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but...

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