Assume that Pearle Vision uses standard costs to control the materials in its made-to-order sunglasses. The standards call for 3 ounces of material for each pair of lenses. The standard cost per ounce of materialis $12. During July, the Santa Clara location produced 6,000 pairs of sunglasses and used 17,750 ounces of materials. The cost of the materials during July was $12.25 per ounce, and there were no beginning orending inventories.Note: Round answers to the nearest whole number, when needed.Requireda. Determine the flexible budget materials cost for the completion of the 6,000 pairs of glasses.$b. Determine the actual materials cost incurred for the completion of the 6,000 pairs of glasses and compute the total materials variance.$actual materials cost$✰ total materials variancec. How much of the total variance was related to the price paid to purchase the materials?$÷d. How much of the difference between the answers to requirements (a) and (b) was related to the quantity of materials used? (Hint: Compute materials quantity variance.)$÷

Step 1:a. Computation of flexible budget materials cost. Flexible budget materials cost = No. of…

Answered: Assume that Pearle Vision uses standard…

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter23: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 1COMP

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