I need help with this problem. Thanks in advance! 7.20 Deviations of raw materials and production work. Give the following data forGreat Home, Inc.:Direct production work$ 90.000Direct raw materialsActual costs: actual quantity x actual prices$ 200.000Actual Quantity X Standard Prices214.00086.000Standard quantity of actual production x standard prices225.00080.000RequestCalculate price deviations, efficiency deviations and those in relation to the flexible budget for direct raw materials and direct production work.

Variances or deviations are used for analyzing the difference between the standards settled for…

7.20 Deviations of raw materials and production work. Give the following data for Great Home, Inc.: Direct raw materials $ 200.000 Direct production work $ 90.000 Actual costs: actual quantity x actual prices Actual Quantity X Standard Prices Standard quantity of actual production x standard prices 214.000 86.000 225.000 80.000 Request Calculate price deviations, efficiency deviations and those in relation to the flexible budget for direct raw materials and direct production work.

7.20 Deviations of raw materials and production work. Give the following data for Great Home, Inc.: Direct raw materials $ 200.000 Direct production work $ 90.000 Actual costs: actual quantity x actual prices Actual Quantity X Standard Prices Standard quantity of actual production x standard prices 214.000 86.000 225.000 80.000 Request Calculate price deviations, efficiency deviations and those in relation to the flexible budget for direct raw materials and direct production work.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 1BE: Direct materials variances Bellingham Company produces a product that requires 2.5 standard pounds...

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