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Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. • Labor: 2,500 hours worked at a total cost of $20,625. The materials quantity variance is:

Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. • Labor: 2,500 hours worked at a total cost of $20,625. The materials quantity variance is:

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead
Section: Chapter Questions
Problem 10E: Standard unit cost and journal entries The normal capacity of Algonquin Adhesives Inc. is 40,000...
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Multiple Choice $1,100 U $1,200 U $1,200 F $1,100 F
Transcribed Image Text:Multiple Choice $1,100 U $1,200 U $1,200 F $1,100 F
Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: Materials: 14,000 ounces purchased and used at a total cost of $7,700. Labor: 2,500 hours worked at a total cost of $20,625. The materials quantity variance is:
Transcribed Image Text:Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: Materials: 14,000 ounces purchased and used at a total cost of $7,700. Labor: 2,500 hours worked at a total cost of $20,625. The materials quantity variance is:
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