Direct materials price variance for yards of material, Accounting Basics

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Direct materials price variance for yards of material

Q1) A dress company has following standards to make one dress:

	Standard Quantity	Standard Price
Direct materials	3 yards per unit	$6.50 per yard
Direct labor	1.5 hours per unit	$8.00 per hour

Company purchased 3,000 yards of material in March for $21,000. Company used 2,800 yards in March to make 7,700 dresses. Direct materials price variance is?

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Accounting Basics: Direct materials price variance for yards of material

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Accounting Basics: Direct materials price variance for yards of material

Reference No:- TGS021454

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Computing budgeted purchases of raw materials

Q : Determining probability values of uniform distribution

Q : Calculating direct materials quantity variance

Q : Standard deviation-uniform distribution

Q : Direct materials price variance for yards of material

Q : Objective questions based on transactions

Q : Computing actual labor rate per hour

Q : Effect of cash conversion cycle on pre-tax profits

Q : Develop 95 percent confidence interval

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Direct materials price variance for yards of material

Reference No:- TGS021454

Recent Questions Asked Accounting Basics

Q : Computing budgeted purchases of raw materials

Q : Determining probability values of uniform distribution

Q : Calculating direct materials quantity variance

Q : Standard deviation-uniform distribution

Q : Direct materials price variance for yards of material

Q : Objective questions based on transactions

Q : Computing actual labor rate per hour

Q : Effect of cash conversion cycle on pre-tax profits

Q : Develop 95 percent confidence interval

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