The following standards have been established for a raw material used to make product N04: Standard quantity of the material per unit of output Standard price of the material. The following data pertain to a recent month's operations: Actual material purchased... Actual cost of material purchased............. Actual material used in production........ Actual output.... 5,200 $82,680 a. What is the materials price variance for the month? b. What is the materials quantity yariance for the 4,600 1,760 2.7 pounds $15.50 per pound pounds pounds units of product N04

The following standards have been established for a raw material used to make product N04: Standard quantity of the material per unit of output Standard price of the material. The following data pertain to a recent month's operations: Actual material purchased... Actual cost of material purchased............. Actual material used in production........ Actual output.... 5,200 $82,680 a. What is the materials price variance for the month? b. What is the materials quantity yariance for the 4,600 1,760 2.7 pounds $15.50 per pound pounds pounds units of product N04

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter8: Cost Analysis

Section: Chapter Questions

Problem 2E

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