Homework Help is Here – Start Your Trial Now!
Business
Accounting
Part 1 of 2 Last month, Baxter Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. (Click the icon to view the table.) .Complete the following table. lp- (Round your answers to two decimal places.) Direct materials information Standard pounds per unit Standard price per pound Actual quantity purchased and used per unit Actual price paid for material per pound Direct materials price variance Direct materials quantity variance Total direct material variance Number of units produced ty A Data table Medium Direct materials information Medium speed Large spe bump bump speed bump Standard pounds per unit 13 13 Standard price per pound $ 3.50 $ 3.50 Actual quantity purchased and used per unit ? S Actual price paid for material per pound $ 4.00 $ 4.00 $ 2,400 U $ 1,400 F Direct materials quantity variance 400 Total direct material variance Number of units produced Direct materials price variance $2,400 U $5,04 $1,400 F ? $2,70 400 Print Done Clear all Check answer

Part 1 of 2 Last month, Baxter Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. (Click the icon to view the table.) .Complete the following table. lp- (Round your answers to two decimal places.) Direct materials information Standard pounds per unit Standard price per pound Actual quantity purchased and used per unit Actual price paid for material per pound Direct materials price variance Direct materials quantity variance Total direct material variance Number of units produced ty A Data table Medium Direct materials information Medium speed Large spe bump bump speed bump Standard pounds per unit 13 13 Standard price per pound $ 3.50 $ 3.50 Actual quantity purchased and used per unit ? S Actual price paid for material per pound $ 4.00 $ 4.00 $ 2,400 U $ 1,400 F Direct materials quantity variance 400 Total direct material variance Number of units produced Direct materials price variance $2,400 U $5,04 $1,400 F ? $2,70 400 Print Done Clear all Check answer

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 32P: Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a...
See similar textbooks
icon
Related questions
Question
Part 1 of 2 Last month, Baxter Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. (Click the icon to view the table.) .Complete the following table. lp- (Round your answers to two decimal places.) Direct materials information Standard pounds per unit Standard price per pound Actual quantity purchased and used per unit Actual price paid for material per pound Direct materials price variance Direct materials quantity variance Total direct material variance Number of units produced ty A Data table Medium Direct materials information Medium speed Large spe bump bump speed bump Standard pounds per unit 13 13 Standard price per pound $ 3.50 $ 3.50 Actual quantity purchased and used per unit ? S Actual price paid for material per pound $ 4.00 $ 4.00 $ 2,400 U $ 1,400 F Direct materials quantity variance 400 Total direct material variance Number of units produced Direct materials price variance $2,400 U $5,04 $1,400 F ? $2,70 400 Print Done Clear all Check answer
Transcribed Image Text:Part 1 of 2 Last month, Baxter Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. (Click the icon to view the table.) .Complete the following table. lp- (Round your answers to two decimal places.) Direct materials information Standard pounds per unit Standard price per pound Actual quantity purchased and used per unit Actual price paid for material per pound Direct materials price variance Direct materials quantity variance Total direct material variance Number of units produced ty A Data table Medium Direct materials information Medium speed Large spe bump bump speed bump Standard pounds per unit 13 13 Standard price per pound $ 3.50 $ 3.50 Actual quantity purchased and used per unit ? S Actual price paid for material per pound $ 4.00 $ 4.00 $ 2,400 U $ 1,400 F Direct materials quantity variance 400 Total direct material variance Number of units produced Direct materials price variance $2,400 U $5,04 $1,400 F ? $2,70 400 Print Done Clear all Check answer
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS