Costless Corporation produces only one product. The standard material cost for that product is 6 gallons...
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Costless Corporation produces only one product. The standard material cost for that product is 6 gallons at $11.50 per gallon. During August, the company made 9,400 units of product and used 25,750 gallons. The actual price for materials was $10.50 per gallon. Which of the following is true? The materials quantity variance is $378,225 unfavorable. The materials quantity variance is $352,475 favorable. The materials quantity variance is $25,750 unfavorable. The materials quantity variance is $378,225 favorable. Costless Corporation produces only one product. The standard material cost for that product is 6 gallons at $11.50 per gallon. During August, the company made 9,400 units of product and used 25,750 gallons. The actual price for materials was $10.50 per gallon. Which of the following is true? The materials quantity variance is $378,225 unfavorable. The materials quantity variance is $352,475 favorable. The materials quantity variance is $25,750 unfavorable. The materials quantity variance is $378,225 favorable.
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To calculate the materials quantity variance you can use the following formula Materials Qu... View the full answer
Related Book For
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-0078025662
10th edition
Authors: Ronald Hilton, David Platt
Posted Date:
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