Question: Flash Electronics, Inc. gathered the following direct materials cost information for the month of March: Actual quantity purchased and used in production 33,900 gallons Actual

Flash Electronics, Inc. gathered the following direct materials cost information for the month of March:

Actual quantity purchased and used in production 33,900 gallons
Actual price per gallon purchased $8.50
Standard price per gallon $8.85
Standard quantity allowed for actual production 34,400 gallons

The direct materials price variance is:

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

6. Create a departures board for OKC that shows all morning flights on June 26, 2015. The output should include, for each OKC departure, only the following: the flight number, the destination name...

Q:

Again, I am putting together because the questions are related... Use the following information for problems 16, 17 and 18: J & C Electronics, Inc. gathered the following direct materials cost...

Q:

J & C Electronics, Inc. gathered the following direct materials cost information for the month of March: Actual quantity purchased 34,700 gallons Actual quantity used in production 33,900 gallons...

Q:

A company provided the following direct materials cost information. Compute the total direct materials cost variance. Standard costs assigned: Direct materials standard cost (405,000 units @ $2/unit)...

Q:

Question Completion Status: QUESTION 2 The Cox Company uses standard costing. The following data are available for April: Actual quantity of direct materials used..... 12,200 gallons Standard price...

Q:

Check my work N 10 points Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Standard Price Standard unit Quantity (Rate) Cost...

Q:

Sharp Company manufactures a product with the following standards: Standard Quantity Standard Price or Rate or Hours $5 per foot ? per hour Direct materials Direct labor 3 feet hours ? During March,...

Q:

The Cox Company uses standard costing. The following data are available for April. Actual quantity of direct materials used 12,000 gallons Standard price of direct materials $5 per gallon Material...

Q:

1. Prepare a COGS budget for January, February, and March 2. Prepare a projected income statement for January, February, and March 3. Prepare a cash budget for the quarter 4. Prepare a projected...

Q:

mr. darnell had promoted Jimmy Mack to vice president of finance. Jimmy had practically been running the firm for several years during which time sales and profit had been declining. On November 15,...

Q:

Mr. Darnell had promoted Jimmy Mack to vice president of finance. Jimmy had practically been running the firm for several years during which time sales and profit had been declining. On November 15,...

Q:

Which value indicates a stronger correlation coefficient: r=0.918 or r=-0.932? OA Neither OB. - 0.932 OC. r-0.918 D. Both

Q:

Nabisco Companys year-end balance sheets follow. Express the balance sheets in common-size percents. Round amounts to the nearest one-tenth of a percent. Analyze and comment on theresults. At...

Q:

Next, consider the magnitude of the difference from the others in the group and also recall the variability displayed in the graph of the total group of temperature values. Given the small difference...

Q:

SIMAD UNIVERSITY Class: BACC25 Subject: Islamic Accounting Instructions: a) Follow The Instructions. Midterm Exam Instructor: All Ibrahim Date: 6-4-2022 b) You Have 1.5 Hrs. To Complete This Test. c)...

Q:

Write a sentence that repeats key words to emphasize that communication technology helps create a global society.

Q:

Use length. You want to help students at a local high school understand the importance of performing well on their upcoming ACT test for college admission. Express this idea in a sentence giving...

Q:

Write a sentence that uses location to emphasize the importance of effective interpersonal relationships to job success.