Hart Company made 3,240 shelves using 22,240 pounds of wood costing $295,792. The company's direct materials standards for one shelf are 8 pounds of wood at $13.20 per pound. Exercise 8-13 (Algo) Computing and analyzing materials variances LO P3 AQ=Actual Quantity SQ Standard Quantity AP = Actual Price SP=Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances along with the total direct materials variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost + Standard Cost
Hart Company made 3,240 shelves using 22,240 pounds of wood costing $295,792. The company's direct materials standards for one shelf are 8 pounds of wood at $13.20 per pound. Exercise 8-13 (Algo) Computing and analyzing materials variances LO P3 AQ=Actual Quantity SQ Standard Quantity AP = Actual Price SP=Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances along with the total direct materials variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost + Standard Cost
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 5PA: Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but...
Related questions
Question
Please fill in this chart
![Hart Company made 3,240 shelves using 22,240 pounds of wood costing $295,792. The company's direct materials
standards for one shelf are 8 pounds of wood at $13.20 per pound.
Exercise 8-13 (Algo) Computing and analyzing materials variances LO P3
AQ=Actual Quantity
SQ
Standard Quantity
AP = Actual Price
SP=Standard Price
1. Compute the direct materials price and quantity variances along with the total direct materials variance.
2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials
costs. Which direct materials variances will Hart investigate further?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3e8d4de1-1986-435d-9868-a5cba9cd1825%2Fff2563b8-002a-45ca-acb4-c2949c0d46c8%2Fdvbqwd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Hart Company made 3,240 shelves using 22,240 pounds of wood costing $295,792. The company's direct materials
standards for one shelf are 8 pounds of wood at $13.20 per pound.
Exercise 8-13 (Algo) Computing and analyzing materials variances LO P3
AQ=Actual Quantity
SQ
Standard Quantity
AP = Actual Price
SP=Standard Price
1. Compute the direct materials price and quantity variances along with the total direct materials variance.
2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials
costs. Which direct materials variances will Hart investigate further?
![1. Compute the direct materials price and quantity variances along with the total direct materials variance.
2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials
costs. Which direct materials variances will Hart investigate further?
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Compute the direct materials price and quantity variances along with the total direct materials variance.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.
Actual Cost
+
Standard Cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3e8d4de1-1986-435d-9868-a5cba9cd1825%2Fff2563b8-002a-45ca-acb4-c2949c0d46c8%2F85zdl3_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1. Compute the direct materials price and quantity variances along with the total direct materials variance.
2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials
costs. Which direct materials variances will Hart investigate further?
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Compute the direct materials price and quantity variances along with the total direct materials variance.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.
Actual Cost
+
Standard Cost
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub