The standard cost of Product B manufactured by Mateo Company includes three units of direct materials at
Question:
The standard cost of Product B manufactured by Mateo Company includes three units of direct materials at $5.00 per unit. During June, 28,000 units of direct materials are purchased at a cost of $4.70 per unit, and 28,000 units of direct materials are used to produce 9,000 units of Product B.
Instructions
(a) Compute the total materials variance and the price and quantity variances.
(b) Repeat (a), assuming the purchase price is $5.20 and the quantity purchased and used is 26,200 units.
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Step by Step Answer:
a Total materials variance AQ X AP 28000 X 470 131600 SQ X SP 27...View the full answer
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Related Book For 
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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