Solar Nova Components assigned a $250,000 standard direct materials cost to its output for the current period. The direct materials variances included a $5,000 favorable price variance and a $3,000 unfavorable quantity variance. What is the actual total direct materials cost for the current period?

Solar Nova Components assigned a $250,000 standard direct materials cost to its output for the current period. The direct materials variances included a $5,000 favorable price variance and a $3,000 unfavorable quantity variance. What is the actual total direct materials cost for the current period?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 13PA: Recompute the variances from the second Acme Inc. exercise using $0.0725 as the standard cost of the...

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Question

I am trying to find the accurate solution to this general accounting problem with appropriate explanations.

Solar Nova Components assigned a $250,000 standard
direct materials cost to its output for the current period. The
direct materials variances included a $5,000 favorable price
variance and a $3,000 unfavorable quantity variance.
What is the actual total direct materials cost for the current
period?

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