sa Sheffield Company budgeted the following cost standards for the current year:Direct materials (2 kg of plastic at $5.00 per kilogram)Direct labour (2 hours at $11 per hour)Variable manufacturing overheadFixed manufacturing overheadTotal standard cost per unitActual costs for producing 2,650 units were as follows:Direct materials usedDirect materials purchased (6,710 kg)Direct labour (6,850 hours)Variable manufacturing costsFixed manufacturing costs5,600 kg$32,879$62,335$32,000$17,100$10.0022.0011.057.25$50.30 Your answer is correct.Calculate the materials price variance for materials purchased. (Round per unit calculations to 2 decimal places, e.g. 1.25 and finalanswers to 0 decimal places, e.g. 125.)(b)Materials price variancee Textbook and Media$Calculate the materials quantity variance.Materials quantity variance $671FavourableAttempts: 1 of 2 used

Name: sa Sheffield Company budgeted the following cost standards for the cur
Uploaded: 2024-03-20T06:33:06.000Z
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Description: sa Sheffield Company budgeted the following cost standards for the current year:Direct materials (2 kg of plastic at $5.00 per kilogram)Direct labour (2 hours at $11 per hour)Variable manufacturing overheadFixed manufacturing overheadTotal standard c

DIRECT MATERIALS COST VARIANCEDirect materials cost variance is the difference between the actual…

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Your answer is correct. Calculate the materials price variance for materials purchased. (Round per unit calculations to 2 decimal places, e.g. 1.25 and final answers to 0 decimal places, e.g. 125.) (b) Materials price variance e Textbook and Media $ Calculate the materials quantity variance. Materials quantity variance $ 671 Favourable Attempts: 1 of 2 used