A company reports the following for one of its products. Direct materials standard (4 pounds @...

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A company reports the following for one of its products. Direct materials standard (4 pounds @ $2 per pound) Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used $ 525,000 AQ-Actual Quantity SQ-Standard Quantity AP Actual Price SP Standard Price Compute the direct materials price and quantity variances and Identify each as favorable or unfavorable. Actual Cost 0 0 0 $ S 0 $8 per unit 300,000 pounds 61,000 units Standard Cost X A company reports the following for one of its products. Direct materials standard (4 pounds @ $2 per pound) Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used $ 525,000 AQ-Actual Quantity SQ-Standard Quantity AP Actual Price SP Standard Price Compute the direct materials price and quantity variances and Identify each as favorable or unfavorable. Actual Cost 0 0 0 $ S 0 $8 per unit 300,000 pounds 61,000 units Standard Cost X

Answer rating: 100% (QA)

974 answers Solution AQ 300000 Actual cost 525000 Standard cost 48... View the full answer