Asked by Samuel Libertus on Jul 26, 2024
Verified
What is the materials quantity variance for the month?
A) $5,916 U.
B) $8,550 U.
C) $8,700 U.
D) $5,814 U.
Materials Quantity Variance
The difference between the actual quantity of materials used in production and the expected quantity of materials that should have been used according to standards.
Standard Quantity
The expected or budgeted quantity of materials, labor, or overheads necessary for producing a unit of production or service under specified conditions.
Standard Price
A predetermined cost that companies use as a benchmark to measure the performance of actual costs.
- Calculate deviations in material expenses, notably in terms of price and amount.
Verified Answer
Learning Objectives
- Calculate deviations in material expenses, notably in terms of price and amount.
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