The following direct materials variance analysis was performed for Brookman. Requirements 1. Record Brookman's direct materials journal

Question:

The following direct materials variance analysis was performed for Brookman.

Requirements

1. Record Brookman's direct materials journal entries. Assume purchases were made on account.

2. Explain what management will do with this variance information.

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Horngrens Financial and Managerial Accounting

ISBN: 978-0133255584

4th Edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Question Posted: Jan 16, 2015 10:20 AM

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The following direct materials variance analysis was performed for Brookman. Requirements 1. Record Brookman's direct materials journal

Question:

AC × AQ 0.70 per pound 7,500 pounds 5,250 SCxA。 $0.30 pør pound SC × SQ 0.30 per pound 7,100 pounds $2,130 7,500 pounds 2,250 Cost Variance $3,000 U Effidency Varianc $120 U

Step by Step Answer:

Requirement 1 Date Accounts and Explanation Debit Credit Raw Materials Inventory 2250 Direct Materials Cost Variance 3000 Accounts Payable 5250 Purcha...View the full answer

Horngrens Financial and Managerial Accounting

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