Question: answer both please thank you Devoto Inc. has provided the following data concerning one of the products in its standard cost system. Standard Quantity or

answer both please thank you  answer both please thank you Devoto Inc. has provided the following

Devoto Inc. has provided the following data concerning one of the products in its standard cost system. Standard Quantity or Hours per Unit of Standard Price or Output Rate Inputs Direct 6.6 grams $7.70 per gram materials The company has reported the following actual results for the product for June: Actual output 9,200units 64,500grams Raw materials purchased Actual cost of raw materials purchased $548,250 60,710grams Raw materials used in production The raw materials price variance for the month is closest to: O $51,600 U $48,568 F O $51,600 F O $48,568 U Question 24 4 pts Magno Cereal Corporation uses a standard cost system for its "crunchy pickle" cereal. The materials standard for each batch of cereal produced is 1.4 pounds of pickles at a standard cost of $3.00 per pound. During the month of August, Magno purchased 78,000 pounds of pickles at a total cost of $253,500. Magno used all of these pickles to produce 60,000 batches of cereal. What is Magno's materials quantity variance for August? O $1.500 Unfavorable O $18.000 Favorable O $19.500 Unfavorable O $54.000 Unfavorable

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

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

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!