Fischer Fabrication reported the following information concerning its direct materials: Direct materials purchased (actual). Standard cost...

 

Transcribed Image Text:

Fischer Fabrication reported the following information concerning its direct materials: Direct materials purchased (actual). Standard cost of materials purchased Standard price times actual amount of materials used Actual production Standard direct materials costs per unit produced $ 376,400 $361,500 $ 333,500 56,900 units $6 Required: Compute the direct materials cost variances. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Fischer Fabrication reported the following information concerning its direct materials: Direct materials purchased (actual). Standard cost of materials purchased Standard price times actual amount of materials used Actual production Standard direct materials costs per unit produced $ 376,400 $361,500 $ 333,500 56,900 units $6 Required: Compute the direct materials cost variances. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.

Answer rating: 100% (QA)

Direct Materials Price Variance Actual Quantity of Materials Purchased AQ Standard Price SP Actu... View the full answer