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AccountingFinancial & Managerial AccountingDirect 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?
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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Financial & Managerial Accounting
14th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781337119207
BuyFindarrow_forward
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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Expert Solution
Chapter 22 Solutions
Financial & Managerial Accounting
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