EBK BUSN
11th Edition
ISBN: 9781337671736
Author: Kelly
Publisher: YUZU
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Chapter 6, Problem 2LO
Summary Introduction
To discuss: The advantages and the limitations of sole proprietorship.
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The standard materials cost of TimberCraft's product is $60 per unit, based on 15 pounds of raw materials at a standard cost of $4 per pound. During March 20X9, 2,000 units of product were produced, using 30,800 pounds of raw material at a cost of $4.50 per pound. a) The standard cost for materials for March is __. b) The total materials variance for the month is __. c) The materials quantity variance is __. d) The materials price variance is __.
How much lower would net income be if it used variable costing?
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