Top Posters
Since Sunday
w
5
a
3
j
2
a
2
t
2
u
2
r
2
j
2
j
2
l
2
d
2
y
2
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
LiChan LiChan
wrote...
Go to Answer
Posts: 558
Rep: 0 0
7 years ago
The Andre Company purchased 15,000 pounds of direct material at $12.50 per pound. It used 13,000 pounds to make 8,000 finished units. The standard cost for direct material is $13.00 per pound and the quantity standard is 1.5 pounds per finished unit. The Andre Company uses a standard cost system.

REQUIRED:
1.)   How much should the company have paid for the 15,000 pounds?
2.)   Determine the direct material price variance based upon the amount of direct material purchased.
3.)   How many pounds of direct material should have been used to make the 8,000 finished units?
4.)   Determine the direct material quantity variance in pounds of material.
5.)   Determine the direct material quantity variance in dollars.
Textbook 
Survey of Accounting: Making Sense of Business

Survey of Accounting: Making Sense of Business


Edition: 1st
Author:
Read 131 times
2 Replies
Replies
Answer verified by a subject expert
hol23hol23
wrote...
#1
Posts: 373
Rep: 0 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

LiChan Author
wrote...
#2
7 years ago
How do you know this stuff so well, wish I was as smart
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1109 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 182
  
 1702
  
 243
Your Opinion
Do you believe in global warming?
Votes: 488
Previous poll results: Does a gender wage gap exist in America?