eferences Mailings Review View Help AaBbCcE AaBbCcL AaBb AaBbC Aal = = = = - Normal...

Transcribed Image Text:

eferences Mailings Review View Help AaBbCcE AaBbCcL AaBb AaBbC Aal = = = = - Normal 11 No Spac... Heading 1 Heading 2 Title Paragraph Styles 14 1 I I E Sarasota Manufacturing provided the following information about its standard costing system for 2022: ty: Good to go Standard Data Materials 10lbs. @ $4 per lbs Labor 3 hrs. @$21 per hr. Budgeted production 3,650 units Actual Data Produced 4,150 units Materials Purchased Materials used Labor Worked 51,560 lbs. for $221,708 42,500 lbs. 11,460 hrs. costing $229.000 Determine the amount of the materials price variance. Identify whether the variance is favorable or unfavorable. Materials Price Variance $ 15,468 Unfavorable How much will the materials price variance differ if the price variance is determined at the time of production? Identify whether the variance is favorable or unfavorable. Materials Price Variance Difference W Russell 1000 = eferences Mailings Review View Help AaBbCcE AaBbCcL AaBb AaBbC Aal = = = = - Normal 11 No Spac... Heading 1 Heading 2 Title Paragraph Styles 14 1 I I E Sarasota Manufacturing provided the following information about its standard costing system for 2022: ty: Good to go Standard Data Materials 10lbs. @ $4 per lbs Labor 3 hrs. @$21 per hr. Budgeted production 3,650 units Actual Data Produced 4,150 units Materials Purchased Materials used Labor Worked 51,560 lbs. for $221,708 42,500 lbs. 11,460 hrs. costing $229.000 Determine the amount of the materials price variance. Identify whether the variance is favorable or unfavorable. Materials Price Variance $ 15,468 Unfavorable How much will the materials price variance differ if the price variance is determined at the time of production? Identify whether the variance is favorable or unfavorable. Materials Price Variance Difference W Russell 1000 =