Refer to Exercise 9-6. Lamson purchased the amount used of each direct material input on March 2
Question:
Refer to Exercise 9-6. Lamson purchased the amount used of each direct material input on March 2 for the following actual prices: tomatoes, $0.020 per ounce and chili peppers, $0.028 per ounce.
Required:
1. Compute and journalize the direct materials price variances.
2. Compute and journalize the direct materials usage variances.
3. Offer some possible reasons for why the variances occurred.
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Step by Step Answer:
1 MPV AP SPAQ Tomatoes MPV 0020 001525600 128 U Chili peppers MPV 0028 00306400 1280 F Tomatoes Mate...View the full answer
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Related Book For 
Cost Management Accounting and Control
ISBN: 978-0324559675
6th Edition
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
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