Oxford Co. has a materials standard of 21 pounds per unit of output. Each pound has a standard price of $18 per pound. During February, Oxford Co paid $57,800 for 4,920 pounds, which were used to produce 2,450 units. What is the direct materials quantity variance? Multiple Choice $9,000 favorable $4,050 favorable $1,300 unfavorable $9.760 unfavorable
Oxford Co. has a materials standard of 21 pounds per unit of output. Each pound has a standard price of $18 per pound. During February, Oxford Co paid $57,800 for 4,920 pounds, which were used to produce 2,450 units. What is the direct materials quantity variance? Multiple Choice $9,000 favorable $4,050 favorable $1,300 unfavorable $9.760 unfavorable
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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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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TB MC Qu. 9-46 (Algo) Oxford Co. has a materials standard of...
Oxford Co. has a materials standard of 21 pounds per unit of output. Each pound has a standard price of $18 per pound. During February, Oxford Co.
pald $57.800 for 4,920 pounds, which were used to produce 2,450 units. What is the direct materials quantity variance?
Multiple Choice
$9,000 favorable
$4,050 favorable
$1,300 unfavorable
$9,760 unfavorable
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