ok Required information [The following information applies to the questions displayed below] Hart Company made 3,000 shelves using 22,000 pounds of wood costing $266,200. The company's direct materials standards for one shelf are 8 pounds of wood at $12 per pound. D ant Print Ferences AQ=Actual Quantity SQ Standard Quantity AP Actual Price SP=Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances along with the total direct materials variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost Standard Cost
ok Required information [The following information applies to the questions displayed below] Hart Company made 3,000 shelves using 22,000 pounds of wood costing $266,200. The company's direct materials standards for one shelf are 8 pounds of wood at $12 per pound. D ant Print Ferences AQ=Actual Quantity SQ Standard Quantity AP Actual Price SP=Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances along with the total direct materials variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost Standard Cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information
[The following information applies to the questions displayed below]
Hart Company made 3,000 shelves using 22,000 pounds of wood costing $266,200. The company's direct
materials standards for one shelf are 8 pounds of wood at $12 per pound.
D
ant
Print
Ferences
AQ=Actual Quantity
SQ
Standard Quantity
AP Actual Price
SP=Standard Price
1. Compute the direct materials price and quantity variances along with the total direct materials variance.
2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials
costs. Which direct materials variances will Hart investigate further?
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Compute the direct materials price and quantity variances along with the total direct materials variance.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.
Actual Cost
Standard Cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3697e2e8-d1c3-4363-8e4d-d47d00cb04e7%2Fb7cc282b-b2b3-49c2-98f0-cbc9dcc99338%2Ff0k9c3s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:ok
Required information
[The following information applies to the questions displayed below]
Hart Company made 3,000 shelves using 22,000 pounds of wood costing $266,200. The company's direct
materials standards for one shelf are 8 pounds of wood at $12 per pound.
D
ant
Print
Ferences
AQ=Actual Quantity
SQ
Standard Quantity
AP Actual Price
SP=Standard Price
1. Compute the direct materials price and quantity variances along with the total direct materials variance.
2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials
costs. Which direct materials variances will Hart investigate further?
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Compute the direct materials price and quantity variances along with the total direct materials variance.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.
Actual Cost
Standard Cost
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