Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for one ladder (unit): Sitka Industries cost standards Standard Quantity Standard Price Direct materials 2 pounds $4.66 per pound Direct labor 4.61 hours $12,54 per hour Sitka Industries made 2,851 ladders in July and used 8,645 pounds of material to make these units. Smith Industries bought 16,303 pounds of material in the current period. There was a $215 unfavorable direct materials price variance. What is the direct materials quantity variance? Round to the nearest whole dollar, no decimals. If it is an unfavorable variance, enter a positive number. If is a favorable variance, enter a negative number using a - dash not parentheses.

Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for one ladder (unit): Sitka Industries cost standards Standard Quantity Standard Price Direct materials 2 pounds $4.66 per pound Direct labor 4.61 hours $12,54 per hour Sitka Industries made 2,851 ladders in July and used 8,645 pounds of material to make these units. Smith Industries bought 16,303 pounds of material in the current period. There was a $215 unfavorable direct materials price variance. What is the direct materials quantity variance? Round to the nearest whole dollar, no decimals. If it is an unfavorable variance, enter a positive number. If is a favorable variance, enter a negative number using a - dash not parentheses.

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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