Det Acoma, Inc., has determined a standard direct materials cost per unit of $7.40 (2 feet x $3.70 per foot). Last month, Acoma purchased and used 4,760 feet of direct materials for which it paid $17,136. The company produced and sold 2,190 units during the month. Calculate the direct materials price, quantity, and spending variances. (Round your intermediate calculations to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) F Direct Materials Price Variance U Direct Materials Quantity Variance U Direct Materials Spending Variance
Det Acoma, Inc., has determined a standard direct materials cost per unit of $7.40 (2 feet x $3.70 per foot). Last month, Acoma purchased and used 4,760 feet of direct materials for which it paid $17,136. The company produced and sold 2,190 units during the month. Calculate the direct materials price, quantity, and spending variances. (Round your intermediate calculations to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) F Direct Materials Price Variance U Direct Materials Quantity Variance U Direct Materials Spending Variance
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 20E: Jameson Company produces paper towels. The company has established the following direct materials...
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