For the current period, Kay Company's manufacturing operations show a $4,500 unfavorable direct materials price variance. The actual price per pound of material is $87; the standard price is $86.50 per pound. How many pounds of material were used in the current period? Actual pounds used pounds
For the current period, Kay Company's manufacturing operations show a $4,500 unfavorable direct materials price variance. The actual price per pound of material is $87; the standard price is $86.50 per pound. How many pounds of material were used in the current period? Actual pounds used pounds
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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Concept explainers
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Transcribed Image Text:QS 21-9 (Algo) Direct materials price variance LO P3
For the current period, Kay Company's manufacturing operations show a $4,500 unfavorable direct materials price variance. The
actual price per pound of material is $87; the standard price is $86.50 per pound. How many pounds of material were used in the
current period?
Actual pounds used
pounds
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