Superior Manufacturing produces electronic devices. During July, the company manufactured 5,000 units, using 7,500 kilograms of material X. The material cost the company $63,750. According to the standard cost card, each unit should require 1.4 kilograms of material X, at a cost of $9.00 per kilogram. Calculate the material's price variance and quantity variance.

Superior Manufacturing produces electronic devices. During July, the company manufactured 5,000 units, using 7,500 kilograms of material X. The material cost the company $63,750. According to the standard cost card, each unit should require 1.4 kilograms of material X, at a cost of $9.00 per kilogram. Calculate the material's price variance and 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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