Use the following information to complete Brief Exercises 10-23 and 10-24:
Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.7 ounces of aluminum per can. During the month of April, 450,000 cans were produced using 1,875,000 ounces of aluminum. The actual cost of aluminum was $0.10 per ounce and the standard price was $0.08 per ounce. There are no beginning or ending inventories of aluminum.
10-24 Materials Variances
Refer to the information for Krumple Inc. above.
Required:
Calculate the materials price and usage variances using the columnar and formula approaches.
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