Johnson, Inc., is a manufacturer of lead crystal glasses. The standard materials quantity is 0.8 pound per
Question:
Johnson, Inc., is a manufacturer of lead crystal glasses. The standard materials quantity is 0.8 pound per glass at a price of $0.30 per pound. The actual results for the production of 6,900 glasses was 1.1 pounds per glass, at a price of $0.40 per pound.
Requirement
1. Calculate the materials price variance and the materials efficiency variance.
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Req 1 Actual price per pound 040 Standard price per pound 030 Ac...View the full answer
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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