Question: Need some help with this question, please answer both parts of the question and show all of your work and thinking clearly, thanks! Steinberg Company
Need some help with this question, please answer both parts of the question and show all of your work and thinking clearly, thanks!
Steinberg Company had the following direct materials costs for the manufacturing of product in March:
Actual purchase price per pound of direct materials
Standard direct materials allowed for units of product produced
Decrease in direct materials inventory
Direct materials used in production
Standard price per pound of material
$
pounds
pounds
pounds
$
Required:
What was Steinberg's direct materials purchaseprice variance and its direct materials usage variance for March? Indicate whether
each variance was favorable or unfavorable
Prepare the appropriate journal entries for March.
Complete this question by entering your answers in the tabs below.
Required
What was Steinberg's direct materials purchaseprice variance and its direct materials usage variance for March? Indicate
whether each variance was favorable F or unfavorable UDo not round intermediate calculations. Round your answers to
the nearest whole dollar amount.
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