Wales company purchased at a cost of 11680 and used 2000, Ask an Expert

Accounting

Wales Company purchased (at a cost of $11,680) and used 2,000 pounds of materials during May. Wales's standard cost of materials per unit produced is based on 2.70 pounds per unit at a cost $5.90 per pound. Production in May was 680 units.

Compute the total, price, and quantity variances for materials.

Total Materials Variance

Neither favorable nor unfavorableFavorableUnfavorable

Materials Price Variance

Neither favorable nor unfavorableUnfavorableFavorable

Materials Quantity Variance

FavorableUnfavorableNeither favorable nor unfavorable

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91790343

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