Asked by Andrea Madison on May 12, 2024
Verified
Lavoie Company planned to use 18,500 pounds of material costing $2.50 per pound to make 4,000 units of its product.In actually making 4,000 units,the company used 18,800 pounds that cost $2.54 per pound.Calculate the direct materials quantity variance.
Direct Materials Quantity Variance
The difference between the actual amount of materials used in production and the expected amount.
Pounds
A unit of weight commonly used in the British imperial and United States customary systems, equivalent to 0.453592 kilograms.
- Familiarize oneself with the techniques for determining various variances, encompassing material, labor, and overhead.
Verified Answer
MM
Learning Objectives
- Familiarize oneself with the techniques for determining various variances, encompassing material, labor, and overhead.