PROBLEMS: Various points as listed. You must show and I must show and label your

Question

PROBLEMS: Various points as listed. You must show and I must show and label your work to receive partial credit 1. Single ton Corporation makes leather jackets. The company spent S of leather. 110,000 jackets w one jacket are: 2 yards of leather at a cost of $3.00. Compute the Direct Mate and the Direct Materials Efficiency Variance. 17 points label your work to receive full credit. You for incorrect solutions. $756,000 to buy 240,000 yards roduced using 230,000 yards of leather. Material standards for 0. Compute the 01000 04 5600 10, o Go --40000 +

Explanation / Answer

Material price variance = (standard price-actual price)actual quantity

= (3*240000-756000)

Material price variance = 36000 Unfavourable

Material quantity variance = (standard quantity-actual quantity)standard price

= (110000*2-230000)3

Material quantity variance = 30000 Unfavourable

Note : material price variance on quantity purchased

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