the standard glass materials quantity is 0.6 pound per $.40 per pound. the actual result for one months production is 7,200 glasses was 1.4 poud per glass at a cost of $0.30 per pound. calculate the materials cost variances select the formula then enter the amounts and compute the cost variance for direct materials and identify whether the variance is favorable. part 1 and 2 please Training
the standard glass materials quantity is 0.6 pound per $.40 per pound. the actual result for one months production is 7,200 glasses was 1.4 poud per glass at a cost of $0.30 per pound. calculate the materials cost variances select the formula then enter the amounts and compute the cost variance for direct materials and identify whether the variance is favorable. part 1 and 2 please Training
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please do not give solution in image format thanku
Transcribed Image Text:the standard glass materials quantity is 0.6
pound per $.40 per pound. the actual result
for one months production is 7,200 glasses
was 1.4 poud per glass at a cost of $0.30 per
pound. calculate the materials cost variances
select the formula then enter the amounts
and compute the cost variance for direct
materials and identify whether the variance is
favorable.
part 1 and 2 please
Training
Transcribed Image Text:Select the formula, then enter the amounts and compute the cost variance for direct materials and identify whether the variance is favorable (F) or unfavorable (U)
(
Actual Cost
Standard Cost
Actual Quantity
Direct Materials Cost Variance
Select the formula, then enter the amounts and compute the efficiency variance for direct materials and identify whether the variance is favorable (F) or unfavorable (U)
Direct Materials Efficiency Variance
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education