Power Tools Inc. has a standard of 2 pounds of materials per unit, at $3.50 per pound. In producing 3,500 units, Power Tools used 7,400 pounds of materials at a total cost of $26,280. What is Power Tools' materials quantity variance?

Power Tools Inc. has a standard of 2 pounds of materials per unit, at $3.50 per pound. In producing 3,500 units, Power Tools used 7,400 pounds of materials at a total cost of $26,280. What is Power Tools' materials quantity variance?

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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Question

What is power tools materials quantity variance of this general accounting question?

Power Tools Inc. has a standard of 2 pounds of materials per unit,
at $3.50 per pound.
In producing 3,500 units, Power Tools used 7,400 pounds of
materials at a total cost of $26,280.
What is Power Tools' materials quantity variance?

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