Homework Answers
$900 Favorable is the correct answer
Direct MaterialPrice Variance = (Standard Price - Actual Price) x Actual Quantity
Direct material price variance = ($5 - $4) x 900 = $900 Favorable
Actual Price = $3600/900 =$4
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Post-Lecture Question 02 x Materials Price Variance = (Actual Quantity x Actual Price) - (Actual Quantity...
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Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (1,300 pounds) has the following standards: 2. Standard Quantity Standard Price 3. Whole tomatoes 2,200 lbs 0.40 per Ib. $2.40 per gal 120 gal Vinegar 4. Corn syrup 8.90 per gal 10 gal 5. 2.20 per Ib Salt 48 bs The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual...
Any help Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials...
Any help
Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (1,300 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 2,200 lbs. $ 0.50 per lb. Vinegar 120 gal. $ 3.10 per gal. Corn syrup 10 gal. $ 11.10 per gal. Salt 48 lbs. $ 2.80 per lb. The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that...
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Any help
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