Georgia inc has collected the following data on one of its, Ask an Expert

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Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance is:

Direct materials standard (2 lbs @ $1/lb) $ 2 per finished unit
Total direct materials cost variance-unfavorable $ 15,250
Actual direct materials used 60,000 lbs
Actual finished units produced 20,000 units

Answers:

$20,000 unfavorable.
$15,250 favorable.
$4,750 favorable.
$20,000 favorable.
$15,250 unfavorable.

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Accounting Basics, Accounting

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