The following materials variance analysis was performed for Brookman. Requirements 1. Record Brookman's direct materials journal entries.
Question:
The following materials variance analysis was performed for Brookman.
Requirements
1. Record Brookman's direct materials journal entries.
2. Explain what management will do with this varianceinformation.
Transcribed Image Text:
Actual Price Standard Price Standard Price Standard Quantity Allowed $0.30 x 7,100 = $2,130 Actual Quantity $0.70 x 7,500 = $ 5,250 Actual Quantity $0.30 x 7,500 = $2,250 Efficiency Variance $120 U Price Variance $3,000 U
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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