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The standard material cost for vinyl use per table is $7.80 based on 6 square feet of vinyl at a cost of $1.30 per square foot. A production run of 1,000 in January resulted in usage of 6,400 square feet of vinyl at a cost of $1.20 per square foot, a total cost of $7,689. What is the quantity variance resulting from the above production run?

The standard material cost for vinyl use per table is $7.80 based on 6 square feet of vinyl at a cost of $1.30 per square foot. A production run of 1,000 in January resulted in usage of 6,400 square feet of vinyl at a cost of $1.20 per square foot, a total cost of $7,689. What is the quantity variance resulting from the above production run?

FINANCIAL ACCOUNTING
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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The standard material cost for vinyl use per table is $7.80 based on 6 square feet of vinyl at a cost of $1.30 per square foot. A production run of 1,000 in January resulted in usage of 6,400 square feet of vinyl at a cost of $1.20 per square foot, a total cost of $7,689. What is the quantity variance resulting from the above production run?
Transcribed Image Text:The standard material cost for vinyl use per table is $7.80 based on 6 square feet of vinyl at a cost of $1.30 per square foot. A production run of 1,000 in January resulted in usage of 6,400 square feet of vinyl at a cost of $1.20 per square foot, a total cost of $7,689. What is the quantity variance resulting from the above production run?
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