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The standard cost of Product B manufactured by Crane Company includes 3 units of direct materials at $3.00 per unit. During June, 23,200 units of direct materials are purchased at a cost of $2.70 per unit, and 23,200 units of direct materials are used to produce 7,520 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance Materials price variance Materials quantity variance (b) Total materials variance $ Materials price variance $ Compute the total materials variance and the price and quantity variances, assuming the purchase price is $3.15 and the quantity purchased and used is 22,400 units. $ $ $ Materials quantity variance $ LA ◆

The standard cost of Product B manufactured by Crane Company includes 3 units of direct materials at $3.00 per unit. During June, 23,200 units of direct materials are purchased at a cost of $2.70 per unit, and 23,200 units of direct materials are used to produce 7,520 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance Materials price variance Materials quantity variance (b) Total materials variance $ Materials price variance $ Compute the total materials variance and the price and quantity variances, assuming the purchase price is $3.15 and the quantity purchased and used is 22,400 units. $ $ $ Materials quantity variance $ LA ◆

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 3PA: Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes...
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The standard cost of Product B manufactured by Crane Company includes 3 units of direct materials at $3.00 per unit. During June, 23,200 units of direct materials are purchased at a cost of $2.70 per unit, and 23,200 units of direct materials are used to produce 7,520 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance Materials price variance Materials quantity variance (b) Total materials variance $ Materials price variance $ $ Compute the total materials variance and the price and quantity variances, assuming the purchase price is $3.15 and the quantity purchased and used is 22,400 units. $ $ + Materials quantity variance $ - + → +
Transcribed Image Text:The standard cost of Product B manufactured by Crane Company includes 3 units of direct materials at $3.00 per unit. During June, 23,200 units of direct materials are purchased at a cost of $2.70 per unit, and 23,200 units of direct materials are used to produce 7,520 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance Materials price variance Materials quantity variance (b) Total materials variance $ Materials price variance $ $ Compute the total materials variance and the price and quantity variances, assuming the purchase price is $3.15 and the quantity purchased and used is 22,400 units. $ $ + Materials quantity variance $ - + → +
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