The standard cost of Product B manufactured by Pharrell Company Includes 2.3 units of direct materials at $6.70 per unit. During June, 26,800 units of direct materials are purchased at a cost of $6.65 per unit, and 26,800 units of direct materials are used to produce 11,500 units of Product B Compute the total materials variance and the price and quantity variances. Total materials variance Materials price variance Materials quantity variance $ (b) Total materials variance Materials price variance $ Compute the total materials variance and the price and quantity variances, assuming the purchase price is $6.75 and the quantity purchased and used is 26,700 units $ eTextbook and Media $ $ Materials quantity variance $ Y
The standard cost of Product B manufactured by Pharrell Company Includes 2.3 units of direct materials at $6.70 per unit. During June, 26,800 units of direct materials are purchased at a cost of $6.65 per unit, and 26,800 units of direct materials are used to produce 11,500 units of Product B Compute the total materials variance and the price and quantity variances. Total materials variance Materials price variance Materials quantity variance $ (b) Total materials variance Materials price variance $ Compute the total materials variance and the price and quantity variances, assuming the purchase price is $6.75 and the quantity purchased and used is 26,700 units $ eTextbook and Media $ $ Materials quantity variance $ Y
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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Concept explainers
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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![The standard cost of Product B manufactured by Pharrell Company Includes 2.3 units of direct materials at $6.70 per unit. During
June, 26,800 units of direct materials are purchased at a cost of $6.65 per unit, and 26,800 units of direct materials are used to
produce 11,500 units of Product B.
(a)
Compute the total materials variance and the price and quantity variances.
Total materials variance
Materials price variance
(b)
Materials quantity variance $
Total materials variance
Materials price variance
$
Compute the total materials variance and the price and quantity variances, assuming the purchase price is $6.75 and the quantity
purchased and used is 26,700 units
Materials quantity variance
$
Texthook and Media
$
$
V
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3d0a6382-0102-44c5-938c-6645ce5d0f48%2F8535a8d0-8125-4e93-b0a5-43e2d834a2d2%2F64lkmp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The standard cost of Product B manufactured by Pharrell Company Includes 2.3 units of direct materials at $6.70 per unit. During
June, 26,800 units of direct materials are purchased at a cost of $6.65 per unit, and 26,800 units of direct materials are used to
produce 11,500 units of Product B.
(a)
Compute the total materials variance and the price and quantity variances.
Total materials variance
Materials price variance
(b)
Materials quantity variance $
Total materials variance
Materials price variance
$
Compute the total materials variance and the price and quantity variances, assuming the purchase price is $6.75 and the quantity
purchased and used is 26,700 units
Materials quantity variance
$
Texthook and Media
$
$
V
$
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