Wildhorse Company budgeted the following cost standards for the current year: Direct materials (2 kg of...
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Wildhorse Company budgeted the following cost standards for the current year: Direct materials (2 kg of plastic at $5.00 per kilogram) Direct labour (2 hours at $11 per hour) Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit Actual costs for producing 2,690 units were as follows: Direct materials used Direct materials purchased (6,490 kg) Direct labour (6,800 hours) Variable manufacturing costs Fixed manufacturing costs 5,570 kg $31,152 $61,880 $32,100 $17,400 $10.00 22.00 10.60 7.85 $50.45 Calculate the materials price variance for materials purchased. Calculate the materials quantity variance. Wildhorse Company budgeted the following cost standards for the current year: Direct materials (2 kg of plastic at $5.00 per kilogram) Direct labour (2 hours at $11 per hour) Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit Actual costs for producing 2,690 units were as follows: Direct materials used Direct materials purchased (6,490 kg) Direct labour (6,800 hours) Variable manufacturing costs Fixed manufacturing costs 5,570 kg $31,152 $61,880 $32,100 $17,400 $10.00 22.00 10.60 7.85 $50.45 Calculate the materials price variance for materials purchased. Calculate the materials quantity variance.
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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