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Direct materials variances The following data relate to the direct materials cost for the production of 10,000 automobile tires: Actual: 145,000 lbs. at $2.80 per lb. Standard: 150,000 lbs. at $2.75 per lb. A. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. B. To whom should the variances he reported for analysis and control?

BuyFind

Financial & Managerial Accounting

14th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781337119207
BuyFind

Financial & Managerial Accounting

14th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781337119207

Solutions

Chapter
Section
Chapter 22, Problem 22.4EX
Textbook Problem

Direct materials variances

The following data relate to the direct materials cost for the production of 10,000 automobile tires:

Actual: 145,000 lbs. at $2.80 per lb.
Standard: 150,000 lbs. at $2.75 per lb.
  • A. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.
  • B. To whom should the variances he reported for analysis and control?

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Chapter 22 Solutions

Financial & Managerial Accounting
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