McHenry Corp. makes wrought iron garden sculptures. During April, the purchasing agent bought 25,600 pounds of scrap
Question:
a. For April, compute the direct material price variance (based on the quantity purchased) and the direct material quantity variance (based on quantity used).
b. Identify the titles of individuals in the firm who would be responsible for each of the variances.
c. Provide some possible explanations for the variances computed in (a).
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a b Purchasing agent s responsibility Material price variance AP AQ p SP AQ p 0 64 25 600 0 7...View the full answer
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Related Book For
Cost Accounting Foundations and Evolutions
ISBN: 978-1111971724
9th edition
Authors: Michael R. Kinney, Cecily A. Raiborn
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