Question: Acoma, Inc., has determined a standard direct materials cost per unit of $8(2feetx $4per foot). Last month, Acoma purchased and used 4,200 feet of direct

Acoma, Inc., has determined a standard direct materials cost per unit of $8 (2 feet x $4 per foot).
Last month, Acoma purchased and used 4,200 feet of direct materials for which it paid $15,750.
The company produced and sold 2,000 units during the month. Calculate the direct materials price, quantity, and spending variances.

Step by Step Solution

★★★★★

3.33 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

AQ x AP Direct Materials Price Variance AQ x SP Direct Materials Quantity Variance SQ x SP 4200 x ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

407-B-M-A-S-C (1323).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

Given the recent events in the US Airways and American Airlines merger, one has to wonder, is the airline industry monopolistic? Which is worse, monopolies or competition? Explain your answer.

Cloud Nine International uses a process costing system. Assume that direct materials are added at the beginning of the period and that direct labor and overhead are added continuously throughout the...

Lion Companys standard materials cost per unit of output is $10 (2 pounds $5). During July, the company purchases and uses 3,200 pounds of materials costing $16,160 in making 1,500 units of finished...

Acoma, Inc., has determined a standard direct materials cost per unit of $8 (2 feet times $4 per foot). Last month, Acoma purchased and used 4, 200 feet of direct materials for which it paid $15,...

Acoma, Inc., has determined a standard direct materials cost per unit of $8 (2 feet * $4 per foot). Last month, Acoma purchased and used 4.200 feet of direct materials for which it paid $15.750. The...

Acoma, Inc., has determined a standard direct materials cost per unit of $8 (2 feet $4 per foot). Last month, Acoma purchased and used 4,200 feet of direct materials for which it paid $15,750. The...

HELP PLEASE! Acoma, Inc., has determined a standard direct materials cost per unit of $7.80 (2 feet $3.90 per foot). Last month, Acoma purchase and used 4,250 feet of direct materials for which it...

Acoma, Inc., has determined a standard direct materials cost per unit of $6.20 (2 feet $3.10 per foot). Last month, Acoma purchased and used 4,410 feet of direct materials for which it paid $13,230....

Acoma, Inc., has determined a standard direct materials cost per unit of $7.00 (2 feet * $3.50 per foot). Last month, Acoma purchased and used 4,530 feet of direct materials for which it paid...

Acoma, Incorporated, has determined a standard direct materials cost per unit of $8 ( 2 feet $4 per foot). Last month, Acoma purchased and used 4,200 feet of direct materials, for which it paid...

John and Anne have the following expenses and account balances: Johns annual 401(k) contribution $22,000 Johns annual salary $165,000 Current Liabilities $36,000 Housing Costs (PITI) monthly $3,450...

If you anticipated that the price of the British pound would rise and wanted to speculate on that increase, should you sell or buy a contract for the delivery of pounds?

The management of a multinational firm sends copies of a write - sp to several different European newspapers announcing its decision to start operations in Spain. Which public relations tool is the...

One companys bottles of grapefruit juice are filled by a machine that is set to dispense an average of 180 milliliters (ml) of liquid. A quality control inspector must check that the machine is...

Taipai Ltd. follows the practice of valuing its inventory at the LCNRV. The following information is available from the companys inventory records as of December 31, 2022 (amounts in thousands)....

Given a set S of points in the plane, define the Delaunay triangulation of S to be the set of all triangles (p, q, r) such that p, q, and r are in S and the circle defined to have these points on its...

In the previous problem find two portfolios whose standard deviation is 45%. (There is an analytical solution to this problem, but it can also be solved by Solver.)

Evaluate the surface integral S F dS for the given vector field F and the oriented surface S. In other words, find the flux of F across S. For closed surfaces, use the positive (outward)...

What type of ratio is operating revenue to operating property? Will it exceed 1:1 for a utility?

Refer to the data for Hanna Company in Exercise 152. The companys income statement for the year appears below: Required: Using the direct method (and the data from Exercise 152), convert the companys...

Refer to the data for Carmono Company in Exercise 155. Required: Using the direct method, convert the companys income statement to a cash basis. Sales..... Cost of goods sold Gross margin ..... $275...

What is the present worth of all disbursements and receipts during the life time of the project, evaluated at the beginning of the first year, if the project has the following costs: Phase 1 labor...

Can someone explain this question with working for me please. 4. Random samples of size 49 are taken from a population that has 200 elements, a mean of 180, and a variance of 196. The distribution of...

Suppose that you can got a 30-year mortgage at 8% interest. How much can you afford to borrow if you can afford to make a monthly payment of $1,000