Riley Company provides the following information for Material A: Actual quantity purchased and used 6,500 lbs. Standard

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Riley Company provides the following information for Material A:

Actual quantity purchased and used 6,500 lbs.

Standard quantity allowed 6,000 lbs.

Actual price $3.80

Standard price $4.00

A. What was the direct material quantity variance for Material A?

B. What was the direct material price variance for Material A?

Related Book For answer-question

Accounting

ISBN: 978-0324188004

21st Edition

Authors: Carl s. warren, James m. reeve, Philip e. fess

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Posted Date: Mar 11, 2024 09:12 AM

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Riley Company provides the following information for Material A: Actual quantity purchased and used 6,500 lbs. Standard

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A The direct material quantity variance for Material A is 2000 unfavorable This is calculated as the ... View the full answer

Accounting

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