Rubble, Inc. produced 1,180 backpacks, the company's product in 2020. The standard cost was 4 yards of cloth at a standard cost of $1.00 per yard. The accounting records show that 2,900 yards of cloth were used, and the company paid $1.05 per yard. Standard time to make the backpacks was 2 direct labor hours per unit at a standard rate of $9.65 per direct labor hours. Employees worked a total of 1,600 hours and were paid $9.15 per hour. Calculate the direct materials cost variance.
Rubble, Inc. produced 1,180 backpacks, the company's product in 2020. The standard cost was 4 yards of cloth at a standard cost of $1.00 per yard. The accounting records show that 2,900 yards of cloth were used, and the company paid $1.05 per yard. Standard time to make the backpacks was 2 direct labor hours per unit at a standard rate of $9.65 per direct labor hours. Employees worked a total of 1,600 hours and were paid $9.15 per hour. Calculate the direct materials cost variance.
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 9Q: Differentiate between an independent variable and a dependent variable and give an example of each.
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Rubble, Inc. produced 1,180 backpacks, the company's product in 2020. The
Calculate the direct materials cost variance.
![(AC
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SC)
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AQ
=
Direct
Materials
Cost
Variance
Favorable or
Unfavorable](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F28eb3af2-9ee5-4acc-872a-c283146004ff%2Fc7fa193e-1a7d-487a-bfb4-9f030b71de8b%2F75utu09_processed.png&w=3840&q=75)
Transcribed Image Text:(AC
?
SC)
?
AQ
=
Direct
Materials
Cost
Variance
Favorable or
Unfavorable
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