Company purchased 3000 yards of material in march for, Ask an Expert

Accounting

Q1) A dress company has following standards to make one dress:

	Standard Quantity	Standard Price
Direct materials	3 yards per unit	$6.50 per yard
Direct labor	1.5 hours per unit	$8.00 per hour

Company purchased 3,000 yards of material in March for $21,000. Company used 2,800 yards in March to make 7,700 dresses. Direct materials price variance is?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M921454

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