Solved: Myles company budgeted 10500 pounds of direct materials, Accounting Basics

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Myles company budgeted 10500 pounds of direct materials

Problem

Myles Company budgeted 10,500 pounds of direct materials costing $23.50 per pound to make 5,300 units of product. The company actually purchased 11,000 pounds of direct materials costing $25.00 per pound to make the 5,300 units. What is the direct materials quantity variance?

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Accounting Basics: Myles company budgeted 10500 pounds of direct materials

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