The following materials standards have been established for a particular raw material used in the company's sole product: Standard quantity per unit of output. 0.5 pound Standard price . $16.60 per pound The following data pertain to operations concerning the product for the last month: Actual cost of materials. $35,200 Actual materials used in production. 2,200 pounds Actual output. 4,200 units What is the materials quantity variance for the month? $1,320 U $2,980 F $1,660 F $1,320 F $1,660 U

The following materials standards have been established for a particular raw material used in the company's sole product: Standard quantity per unit of output. 0.5 pound Standard price . $16.60 per pound The following data pertain to operations concerning the product for the last month: Actual cost of materials. $35,200 Actual materials used in production. 2,200 pounds Actual output. 4,200 units What is the materials quantity variance for the month? $1,320 U $2,980 F $1,660 F $1,320 F $1,660 U

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Description: The following materials standards have been established for a particular raw material used in the company's sole product:Standard quantity per unit of output.0.5 poundStandard price.$16.60 per poundThe following data pertain to operations concerning

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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