Ventura uses a just-in-time (JIT) manufacturing system for all its materials, components, and products. The master...

  

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Ventura uses a just-in-time (JIT) manufacturing system for all its materials, components, and products. The master budget of the company for June called for use of 12,200 square feet of materials, while the flexible budget for the actual output of the month had 11,200 square feet of materials at a standard cost (SP) of $12.00 per square foot. Company records show that the actual price paid (AP) for the materials used in June was $11.90 per square foot, and that the direct materials purchase-price variance for the month was $1,160. The materials usage (quantity) variance for June was; Multiple Choice O O $4,760 unfavorable. $4,800 unfavorable. $7,200 unfavorable.. $10,960 favorable. $7,140 unfavorable. Ventura uses a just-in-time (JIT) manufacturing system for all its materials, components, and products. The master budget of the company for June called for use of 12,200 square feet of materials, while the flexible budget for the actual output of the month had 11,200 square feet of materials at a standard cost (SP) of $12.00 per square foot. Company records show that the actual price paid (AP) for the materials used in June was $11.90 per square foot, and that the direct materials purchase-price variance for the month was $1,160. The materials usage (quantity) variance for June was; Multiple Choice O O $4,760 unfavorable. $4,800 unfavorable. $7,200 unfavorable.. $10,960 favorable. $7,140 unfavorable.

Answer rating: 100% (QA)

Solution Answer Option with 4800 Unfavorable is correct option Working Material price ... View the full answer