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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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![[The following information applies to the questions displayed below.]
Hart Company made 3,280 shelves using 22,280 pounds of wood costing $300,780. The company's direct materials
standards for one shelf are 8 pounds of wood at $13.40 per pound.
Exercise 21-13 (Algo) Computing and analyzing materials variances LO P3
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
1. Compute the direct materials price and quantity variances along with the total direct materials variance.
2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs.
Which direct materials variances will Hart investigate further?
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Compute the direct materials price and quantity variances along with the total direct materials variance. (Indicate the effect of each variance by selecting
favorable, unfavorable, or no variance.)
Actual Cost
0
$
0
$
$
0
0
< Required 1
$
0
Required 2 >
Standard Cost](https://content.bartleby.com/qna-images/question/4cf9133d-2dd4-45f6-b833-be7167a81438/ee796970-e8e3-469c-b7cd-7d613d1d2ea4/p5dxczm_thumbnail.png)
Transcribed Image Text:[The following information applies to the questions displayed below.]
Hart Company made 3,280 shelves using 22,280 pounds of wood costing $300,780. The company's direct materials
standards for one shelf are 8 pounds of wood at $13.40 per pound.
Exercise 21-13 (Algo) Computing and analyzing materials variances LO P3
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
1. Compute the direct materials price and quantity variances along with the total direct materials variance.
2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs.
Which direct materials variances will Hart investigate further?
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Compute the direct materials price and quantity variances along with the total direct materials variance. (Indicate the effect of each variance by selecting
favorable, unfavorable, or no variance.)
Actual Cost
0
$
0
$
$
0
0
< Required 1
$
0
Required 2 >
Standard Cost
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