Smithson, Inc., is a manufacturer of lead crystal glasses. The standard materials quantity is .9 pound per
Question:
Smithson, Inc., is a manufacturer of lead crystal glasses. The standard materials quantity is .9 pound per glass at a price of \($0.45\) per pound. The actual results for the production of 7,100 glasses was 1.3 pounds per glass, at a price of \($0.55\) per pound.
RequirementÂ
1. Calculate the materials price variance and the materials efficiency variance.
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Related Book For
Financial And Managerial Accounting
ISBN: 9780135080191
2nd Edition
Authors: Charles T Horngren, Jr Walter T Harrison
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