Last month, Talley Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control.(Click the icon to view the table.)Complete the following table.(Round your answers to two decimal places.)Direct materials informationStandard pounds per unitStandard price per poundActual quantity purchased and used per unitActual price paid for material per poundDirect materials price varianceDirect materials quantity varianceTotal direct material varianceNumber of units producedLargespeed bump speed bumpMedium15$ 1.00$ 1.801416B$ 1.80$ 2.10$ 1,120 U $$ 100 F$ 1,020 U $1001,920 U480 U400C... Data tableDirect materials informationStandard pounds per unit..Standard price per pound.....Actual quantity purchased and used per unitActual price paid for material per pound..Direct materials price variance....Direct materials quantity variance..Total direct material variance..Number of units producedMedium speedbump$Large speedbump151.00 $?1.80 $$1,120 U100 F?100?1.80162.10$1,920 U?$480 U400I

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Description: Last month, Talley Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control.(Click the icon to view the table.)Complete the following table.(Round your answers to two decimal places.)Dire

Variances are the difference between the standard set by the company and the company actually…

Answered: Last month, Talley Corporation…

Business

Accounting

Last month, Talley Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control.

Accounting (Text Only)

26th Edition

ISBN:9781285743615

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter23: Performance Evaluation Using Variances From Standard Costs

Section: Chapter Questions

Problem 9DQ: If variances are recorded in the accounts at the time the manufacturing costs are incurred, what...

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