Homework Help is Here – Start Your Trial Now!
Business
Accounting
The actual cost of direct materials is $22.75 per kilogram. The standard cost is $21.50 per kilogram. During production, 5,400 kilograms were used. The standard quantity for the output is 5,200 kilograms. How much is the direct materials price variance?

The actual cost of direct materials is $22.75 per kilogram. The standard cost is $21.50 per kilogram. During production, 5,400 kilograms were used. The standard quantity for the output is 5,200 kilograms. How much is the direct materials price variance?

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter7: Budgeting
Section: Chapter Questions
Problem 17EB: The production cost for UV protective sunglasses is $5.50 per unit and fixed costs are $19,400 per...
See similar textbooks
icon
Related questions
Question
100%

I need the correct answer to this general accounting problem using the standard accounting approach.

The actual cost of direct materials is $22.75 per kilogram. The standard cost is $21.50 per kilogram. During production, 5,400 kilograms were used. The standard quantity for the output is 5,200 kilograms. How much is the direct materials price variance?
Transcribed Image Text:The actual cost of direct materials is $22.75 per kilogram. The standard cost is $21.50 per kilogram. During production, 5,400 kilograms were used. The standard quantity for the output is 5,200 kilograms. How much is the direct materials price variance?
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
SEE MORE TEXTBOOKS