a. Material Price Variance: (Std Price - Actual Price)* Actual Qty
ie., (5 - 4.9) * 76500 = 7650 (Favorable)
b. Material Qty Variance: (Std Qty - Actual Qty)* Std Price
ie., (5000*15 - 76500) * 5 = 7500 (Unfavorable)
c. Material Cost Variance: (Std Qty*Std Price) - (Actual Qty * Actual Price)
ie., (5000*15*5) + (76500*4.9) = 150 (Favorable)
Direct Materials Variances Bellingham Company produces a product that requires 15 standard pounds per unit. The...
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