The standard costs and actual costs for direct materials for the manufacture of 2,700 actual units of product are as follows: Standard Costs Direct materials 1,040 kilograms at $8.83 Actual Costs Direct materials 2,700 kilograms at $8.10 The directmaterials price variance is a. $1,971 favorable b. $1,971 unfavorable c. $759 unfavorable d. $759 favorable

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Description: The standard costs and actual costs for direct materials for the manufacture of 2,700 actual units of product are as follows: Standard Costs Direct materials 1,040 kilograms at $8.83 Actual Costs Direct materials 2,700 kilograms at $8.10 The directm

Standard costing means where standard is set for various cost element and actual cost is then…

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The standard costs and actual costs for direct materials for the manufacture of 2,700 actual units of product are as follows: Standard Costs Direct materials 1,040 kilograms at 58.83 Actual Costs Direct materials 2,700 kilograms at 58.10 The direct materials price variance is a. $1,971 favorable b. $1,971 unfavorable c. $759 unfavorable d. $759 favorable

The standard costs and actual costs for direct materials for the manufacture of 2,700 actual units of product are as follows: Standard Costs Direct materials 1,040 kilograms at 58.83 Actual Costs Direct materials 2,700 kilograms at 58.10 The direct materials price variance is a. $1,971 favorable b. $1,971 unfavorable c. $759 unfavorable d. $759 favorable

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter23: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 7E: H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup...

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H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (7,650 pounds) has the following standards: The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials for batch 08-99 were as follows: a.Determine the standard unit materials cost per pound for a standard batch. b.Determine the direct materials quantity variance for batch 08-99.
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