Waless standard cost of materials per unit


Wales Company purchased (at a cost of $15,616) and used 3,200 pounds of materials during May. Wales's standard cost of materials per unit produced is based on 2.90 pounds per unit at a cost $5.00 per pound. Production in May was 1,020 units.

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

Total Materials Variance
$pixel.gif
pixel.gif UnfavorableFavorableNeither favorable nor unfavorable
Materials Price Variance
$pixel.gif
pixel.gif UnfavorableFavorableNeither favorable nor unfavorable
Materials Quantity Variance
$pixel.gif
pixel.gif FavorableUnfavorableNeither favorable nor unfavorable

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Waless standard cost of materials per unit
Reference No:- TGS0675211

Expected delivery within 24 Hours