Question: Information on OCP's direct materials costs for the current month is as follows: actual quantity of direct materials purchased and used, 30,000 pounds; actual cost

Information on OCP's direct materials costs for the current month is as follows: actual quantity of direct materials purchased and used, 30,000 pounds; actual cost of direct materials, $84,000; direct materials efficiency variance, $3,000 U; standard quantity of direct materials allowed for the current month's production, 29,000 pounds. Based on the presented information, OCP's direct materials price variance for the month is closest to

a.	$2,800 F
	b.	$2,800 U
	c.	$6,000 U
	d.	$6,000 F

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!

Please answer the questions in excel formula. Clipboard Font Styles A1 X V A B C D E F G H I The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.95 per share on its 3 stock. The dividends...

Information concerning Johnston Co's direct materials costs is as follows: Standard price per pound Actual quantity purchased Actual quantity used in production Units of product manufactured...

Information concerning Johnston Company's direct materials costs is as follows: Standard price per pound Actual quantity purchased Actual quantity used in production Units of product manufactured...

Information concerning Johnston Co.'s direct materials costs is as follows: Standard price per pound Actual quantity purchased Actual quantity used in production Units of product manufactured...

Information concerning Johnston Company's direct materials costs is as follows: Standard price per pound Actual quantity purchased Actual quantity used in production Units of product manufactured...

Information concerning Johnston Co.'s direct materials costs is as follows: Standard price per pound Actual quantity purchased Actual quantity used in production Units of product manufactured...

Information concerning Johnston Company's direct materials costs is as follows: Standard price per pound Actual quantity purchased Actual quantity used in production Units of product manufactured...

Information concerning Johnston Co.'s direct materials costs is as follows: Standard price per pound Actual quantity purchased Actual quantity used in production Units of product manufactured...

On May 31,2017 a company purchased a machine for 77,000 $ with 5000$ estimated salvage value and 5 years useful life. The company used sum of the years digits to recorded depreciation expenses during...

Critically evaluate the Australian requirements for accounting for business combinations In your discussion you should specifically address the following issues Exclusions from the scope of...

Nonsampling errors occur when audit tests do not uncover existing exceptions in the Option A sample. Option B planning stage. Option C financial statements. Option D population.

Real GDP, which peaked at 6.1% in 2015, contracted by an estimated 1.0% in 2019, following a 0.5% contraction in 2018. Aggregate demand fell sharply in 2016 and 2017 as the government began fiscal...

A light beam is incident upon a mirror that is held horizontally. The angle that the light beam makes with the normal line is 50. But then, the mirror is tilted at an angle of 30 above the horizontal...

Find 1 10 + 2 20 + 3 30 + 4 40 + 5 50 + 6 60 (mod 7)

This case provides students with a real-world, hands-on experience in developing a balanced scorecard. It is different from other balanced scorecard cases in that it takes place in a charitable...

A composite bar is made up by connecting a steel member and a copper member rigidly fixed at their ends. The cross-sectional area of steel member is A cm^2 while that of the copper member is 2A cm^2...

An unwritten understanding about what an employee will bring to the workplace and what the company will provide in exchange is called : person - organization fit

If you were Jennifer, what would be the first thing that you would do when joining the business? resource management activities, such as recruiting, selecting, training, and rewarding employees, are...

=+2. Using the same product (client), expand the brief into a longer one. Remember to describe your audience using the appropriate VALS, such as Belongers, Emulators, Achievers, and so on. (See...

=+6. Select the one that would work best for this client.