The following materials standards have been established for a particular product: Standard quantity per unit of output 4.9 grams Standard price $12.00 per grams The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased 3,800 grams $44,270 Actual materials used in production 3,100 grams Actual output 570 units The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month?

The following materials standards have been established for a particular product: Standard quantity per unit of output 4.9 grams Standard price $12.00 per grams The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased 3,800 grams $44,270 Actual materials used in production 3,100 grams Actual output 570 units The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month?

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 3PA: Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes...

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