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Unit VIII question 2

Unit VIII question 2

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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Unit VIII question 2

<. %4 %24 The following direct materials data pertain to the operations of Cheyenne Co. for the month of December. Standard materials price punod Jad 0 16,550 pounds Actual quantity of materials purchased and used The standard cost card shows that a finished product contains 4 pounds of materials. The 16,550 pounds were purchased in December at a discount of 4% from the standard price. In December, 4,050 units of finished product were manufactured. Calculate the materials variances. Identify whether each variance is favorable or unfavorable. Materials Price Variance, Materials Quantity Variance Total Materials Variance e Textbook and Media Sevefor Later Attempts: 0 of 3 used Submit Answer
Transcribed Image Text:<. %4 %24 The following direct materials data pertain to the operations of Cheyenne Co. for the month of December. Standard materials price punod Jad 0 16,550 pounds Actual quantity of materials purchased and used The standard cost card shows that a finished product contains 4 pounds of materials. The 16,550 pounds were purchased in December at a discount of 4% from the standard price. In December, 4,050 units of finished product were manufactured. Calculate the materials variances. Identify whether each variance is favorable or unfavorable. Materials Price Variance, Materials Quantity Variance Total Materials Variance e Textbook and Media Sevefor Later Attempts: 0 of 3 used Submit Answer
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