The following data relate to the direct materials cost for the production of 2,400 auto-mobile tires: a.

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The following data relate to the direct materials cost for the production of 2,400 auto-mobile tires:

a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.
b. To whom should the variances be reported for analysis andcontrol?

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Financial and Managerial Accounting

ISBN: 978-1285078571

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Question Posted: Jun 27, 2014 03:22 AM

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The following data relate to the direct materials cost for the production of 2,400 auto-mobile tires: a.

Question:

Actual: Standard: 53,500lbs.at $2.60 55,120 lbs. at $2.50 $139,100 $137,800

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a Price variance Direct Materials Actual Price Standard Price Actual Quantity Price Variance Direct ...View the full answer

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