Kokomo uses a standard costing system. For production of a fuel cell, standards call for 4...
Kokomo uses a standard costing system. For production of a fuel
cell, standards call for 4 model RN-3 valves per cell costing
$2,340 each. During 2018, the company purchased 260 valves for
$642,200. The company used 252 valves in the production of 61 fuel
cells (8 valves were ruined through installation error).
Calculate material price and quantity variances for the model RN-3
valves. (Enter all variances as a positive
number.)
| Material Price Variance | $
|
|
|||
| Material Quantity Variance | $
|
|
Homework Answers
Materials Price Variance = (SP-AP) * AQ
= (2340 - 642,200/260) * 260
= 33,800 Unfavorable
.
Materials Quantity Variance = (SQ-AQ) * SP
= (61*4 - 252) * 2340
= 18,720 Unfavorable
Add Answer to:
Kokomo uses a standard costing system. For production of a fuel
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