Help l ctice Gradebook ORION Downloadable eTextbook nment Question 1 Thrope, Inc

Question

Help l ctice Gradebook ORION Downloadable eTextbook nment Question 1 Thrope, Inc. purchased 2,300 pounds of direct material at a price of $1.05 per pound. The standard price of the material is $1.17 per pound. Thrope used 1,200 pounds in production while the standard pounds allowed for actual production was 900. Calculate the direct materials price and quantity variances and indicate whether the variances are favorable or unfavorable Direct material price variance Direct material quantity variance Click if you would like to Show Work for this question: Qoen Show work Question Attempts: 0 of 1 used SAVE FOR LATER kinde 27

Explanation / Answer

Direct material price variance Formula : ( Actual cost - standard cost)* Actual quantity (1.05-1.17)*2300 (-0.12)*2300 276 favorable Direct material quantity variance Formula : ( Actual quantity - stanadard quantity)* standard price (1200-900)*1.17 300*1.17 351 Unfavorable

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