Ch $21$: Homework

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Hart Company made $3,380$ shelves using $22,380$ pounds of wood costing $$313,320.$ The company's direct materials standards for one shelf are $8$ pounds of wood at $$13\mathrm{.}90$ per pound.

Exercise $21-13($Algo$)$ Computing and analyzing materials variances LO P$3$

$AQ=$ Actual Quantity

$SQ=$ Standard Quantity

$AP=$ Actual Price

$SP=$ Standard Price

Compute the direct materials price and quantity variances along with the total direct materials variance.

Hart applies management by exception by investigating direct materials variances of more than $5\%$ of actual direct materials costs. Which direct materials variances will Hart investigate further?

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Compute the direct materials price and quantity variances along with the total direct material favorable, unfavorable, or no variance.$)$