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Quantile Corporation has the following standards for its direct materials: Standard Cost: $3.80 per pound Standard Quantity: 6.00 pounds per product During the most recent month, the company purchased and used 33,900 pounds of material in manufacturing 5,600 products, at a total cost of $131,900. Compute the materials quantity variance.

Quantile Corporation has the following standards for its direct materials: Standard Cost: $3.80 per pound Standard Quantity: 6.00 pounds per product During the most recent month, the company purchased and used 33,900 pounds of material in manufacturing 5,600 products, at a total cost of $131,900. Compute the materials quantity variance.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Quantile Corporation has the following standards for its direct materials: Standard Cost: $3.80 per pound Standard Quantity: 6.00 pounds per product During the most recent month, the company purchased and used 33,900 pounds of material in manufacturing 5,600 products, at a total cost of $131,900. Compute the materials quantity variance.
Transcribed Image Text:Quantile Corporation has the following standards for its direct materials: Standard Cost: $3.80 per pound Standard Quantity: 6.00 pounds per product During the most recent month, the company purchased and used 33,900 pounds of material in manufacturing 5,600 products, at a total cost of $131,900. Compute the materials quantity variance.
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