Direct materials variances The following data is provided for Bellingham Company: DATA Resources' requirements, standard pol...

 

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Direct materials variances The following data is provided for Bellingham Company: DATA Resources' requirements, standard pol 2.5 Resources' standard price, per pound $3.30 Units produced 15,000 Resources used for production, pounds 37,000 Resources' actual price, per pound $3.50 Using formulas and cell references, perform the required analysis, and input your answers into the green cells in the Amount column. Select the corresponding type of variance in the dropdowns in cells D15:D17. Transfer the numeric results for the green entry cells (C15:C17) into the appropriate fields in CNOWv2 for grading. a. Direct materials price variance b. Direct materials quantity variance c. Direct materials cost variance Amount Formulas Direct materials variances The following data is provided for Bellingham Company: DATA Resources' requirements, standard pol 2.5 Resources' standard price, per pound $3.30 Units produced 15,000 Resources used for production, pounds 37,000 Resources' actual price, per pound $3.50 Using formulas and cell references, perform the required analysis, and input your answers into the green cells in the Amount column. Select the corresponding type of variance in the dropdowns in cells D15:D17. Transfer the numeric results for the green entry cells (C15:C17) into the appropriate fields in CNOWv2 for grading. a. Direct materials price variance b. Direct materials quantity variance c. Direct materials cost variance Amount Formulas

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Direct Materials Variances Explained Direct materials variances measure the difference between the actual costs incurred and the standard costs budgeted for the materials used in production They are f... View the full answer