Assume the following information for Jenkins Inc.: Total flexible budget direct materials costs: $5,000 Standard quantity of direct materials per unit: 40 items Budgeted production: 300 units Total actual direct materials costs: $4,500 Actual quantity of direct materials per unit: 42 items Actual production: 250 units What is Jenkins' direct materials efficiency variance? (do not round intermediate calculations, round final answer to the nearest cent)

Assume the following information for Jenkins Inc.: Total flexible budget direct materials costs: $5,000 Standard quantity of direct materials per unit: 40 items Budgeted production: 300 units Total actual direct materials costs: $4,500 Actual quantity of direct materials per unit: 42 items Actual production: 250 units What is Jenkins' direct materials efficiency variance? (do not round intermediate calculations, round final answer to the nearest cent)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 15EA: Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $2 per...

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