QS 23-8 Materials variances P3Tercer reports the following for one of its products. Compute the direct materials price and quantity variances and classify each as favorable or unfavorable.Actual finished units produced....Direct materials standard (4 lbs. @ $2 per Ib.) ... $8 per finished unit300,000 lbs.60,000 unitsActual direct materials usedActual cost of direct materials used...$540,000

Name: QS 23-8 Materials variances P3Tercer reports the following for one of
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Description: QS 23-8 Materials variances P3Tercer reports the following for one of its products. Compute the direct materials price and quantity variances and classify each as favorable or unfavorable.Actual finished units produced....Direct materials standard (

Solution:- a)Calculation material price variance as follows:- material price variance =(Standard…

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Tercer reports the following for one of its products. Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. Direct materials standard (4 Ibs. @ $2 per Ib.)... $8 per finished unit Actual finished units produced..... 60,000 units Actual direct materials used 300,000 lbs. Actual cost of direct materials used... $540,000

Tercer reports the following for one of its products. Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. Direct materials standard (4 Ibs. @ $2 per Ib.)... $8 per finished unit Actual finished units produced..... 60,000 units Actual direct materials used 300,000 lbs. Actual cost of direct materials used... $540,000

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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