Williams Manufacturing Company has established the following materials standards for a particular product: 8.1 Pounds Standard quantity per unit of output Standard price $15.10 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 6,840 Pounds Actual cost of materials purchased $93,500 Actual materials used in production 6,140 Pounds Actual output 1,300 Units What is the materials quantity variance for the month?

Williams Manufacturing Company has established the following materials standards for a particular product: 8.1 Pounds Standard quantity per unit of output Standard price $15.10 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 6,840 Pounds Actual cost of materials purchased $93,500 Actual materials used in production 6,140 Pounds Actual output 1,300 Units What is the materials quantity variance for the month?

Name: ### Williams Manufacturing Company: Materials Standards and Variance
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Description: ### Williams Manufacturing Company: Materials Standards and Variance Analysis#### Materials Standards for a Particular Product:- **Standard quantity per unit of output**: 8.1 Pounds- **Standard price**: $15.10 per pound#### Operational Data for the

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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