The following direct materials data pertain to the operations of Pina Colada Co. for the month of December. Standard materials price Actual quantity of materials purchased and used The standard cost card shows that a finished product contains 4 pounds of materials. The 16,890 pounds were purchased in December at a discount of 4% from the standard price. In December, 4,100 units of finished product were manufactured. Calculate the materials variances. Identify whether each variance is favorable or unfavorable. Materials Price Variance Materials Quantity Variance Total Materials Variance Save for Later $ $ $5.00 per pound 16,890 pounds $ Favorable Unfavorable Not Applicable Attempts: 0 of 1 used Submit Answ

The following direct materials data pertain to the operations of Pina Colada Co. for the month of December. Standard materials price Actual quantity of materials purchased and used The standard cost card shows that a finished product contains 4 pounds of materials. The 16,890 pounds were purchased in December at a discount of 4% from the standard price. In December, 4,100 units of finished product were manufactured. Calculate the materials variances. Identify whether each variance is favorable or unfavorable. Materials Price Variance Materials Quantity Variance Total Materials Variance Save for Later $ $ $5.00 per pound 16,890 pounds $ Favorable Unfavorable Not Applicable Attempts: 0 of 1 used Submit Answ

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Description: The following direct materials data pertain to the operations of Pina Colada Co. for the month of December.Standard materials priceActual quantity of materials purchased and usedThe standard cost card shows that a finished product contains 4 pounds

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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