Hayeraft Inc. manufactures fitted bed sheets. For March 2020, it budgeted to purchase and use 12 bolts

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Hayeraft Inc. manufactures fitted bed sheets. For March 2020, it budgeted to purchase and use 12 bolts of cloth, each 300 yards. Each bolt of cloth cost $1,500. Actual purchases and usage for March 2020 were 14 bolts of cloth at $1,420 per bolt. Hayeraft Inc. budgeted for 1,200 sheets. Actual output was 1,350 sheets.

Compute the price variance

Posted Date: May 15, 2024 10:40 AM

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Hayeraft Inc. manufactures fitted bed sheets. For March 2020, it budgeted to purchase and use 12 bolts

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Expert Answer:

First we need to find the actual cost per yard of cloth and the budgeted cost ... View the full answer

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