ure https://edugen.wileyplus.com/edugen/Iti/main.uni weygandt. Financial 8 Hanag

Question

ure https://edugen.wileyplus.com/edugen/Iti/main.uni weygandt. Financial 8 Hanagerial Accounting, 2e Help I System Announcements nment PRINTER VERSIONBACK NEX NEX The standard cost of Product B manufactured by Pharrell Company includes 2.2 units of direct materials unit. During June, 26,700 materials are used to produce 12,000 units of Product B. units of direct materials are purchased at a cost of $5.35 per unit, and 26,700 units of direct Compute the total materials variance and the price and quantity varia Total materials variance Favorable Materials price variance 6675TFavorable Materials quantity variance Unfavorable Compute the total materials variance and the price and quantity variances, assuming the purchase price is $5.70 an the quantity purchased and used is 26,900 units. Total materials variance Unfavorable Materials price variance 9415 Unfavorable Materials quantity variance, Unfavorable LINK TO TEXT VIDEO: SIMILAR EXERCISE VIDEO: APPLIED SKILLS Version Policy I ?2000-2018John Wiley & Sons,Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. e to search

Explanation / Answer

a Total materials variance=(26700*5.35)-(12000*2.2*5.6)= $4995 Favorable Materials price variance=26700*(5.35-5.6)= $6675 Favorable Materials quantity variance= 5.6*(26700-12000*2.2)= $1680 Unfavorable b Total materials variance=(26900*5.70)-(12000*2.2*5.6)= $5490 Unfavorable Materials price variance=26900*(5.7-5.6)= $2690 Unfavorable Materials quantity variance= 5.6*(26900-12000*2.2)= $2800 Unfavorable

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