I-time inc produces electronic timepieces the company uses, Ask an Expert

Accounting

I-Time, Inc produces electronic timepieces. The company uses mini-LCD dispalys for its products. Each time piece uses one display. The company produced 550 timepieces during March. However, due to the LCD defects the company actually used 570 LCD displays during March. Each Display has a standard cost of $9.20. Six hundred displays were purchased for March at a cost of $6,000.

Determine the direct materials price variance, direct materials quantity variance, and total materials cost of variance for March. Use the minus sign to enter favorable variances as negative numbers. If required, round per unit costs to the nearest cent.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9976968

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