Question: please help solve yellow and red boxes Problem B: During December, a department completed 2 , 5 0 0 units of a product that has

please help solve yellow and red boxes
Problem B: During December, a department completed 2,500 units of a product that has a standard materials usage and cost of 1.2 square feet per unit at
$0.48 per square foot. The actual material used consisted of 3,050 square feet at an actual cost of $2,664.48. The actual purchase of this material amounted
o 4,500 square feet at a total cost of $3,931.20.
Requirement: Compute the Materials Price Variance, the Materials (Quantity) Usage Variance and the Total Materials Variance. Also indicate whether the
rariances are Favorable or Unfavorable.
(Hint: If both Variances are Favorable or Unfavorable then you add them together and the Total Variance will be Favorable or Unfavorable.)(If one is
Favorable and the other is Unfavorable you will subtract the 2 and the Total Variance will take on the Favorable or Unfavorable trait of the largest
variance)
(Make sure all variance amounts are positive)
 please help solve yellow and red boxes Problem B: During December,

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!