(Answered) Question control limits during the last six weeks the

Accounting

Question: Control Limits During the last six weeks, the actual costs of materials for Mandarin Company were as follows: Week1 $48,000 Week 4 $57,000 Week 2 $50,000 Week 5 $60,000 Week 3 $52,500 Week 6 $65,000 The standard materials cost for each week was $50,000 with an allowable deviation of 5,000.

Required: Plot the actual costs over time against the upper and lower limits. Comment on whether or not there is a need to investigate any of the variances.

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