lexxixs
Oct 12, 2012, 10:02 AM
I have some Accounting homework that I am having a difficult time with. I am supposed to compute the total pounds of direct materials purchased with the following information:
Direct Materials price variance (based on purchases) $176,000 F
Direct materials efficiency variance $69,000 U
Standard cost per pound of direct materials $11.50
Standard allowance of direct materials for each unit of product 3 pounds
Direct materials price variances $1.10 per pound
During the month 30,000 units of product were produced. There was no beginning inventory of direct materials. There was no beginning or ending work in process.
Any help would be great, because I am stumped!
Direct Materials price variance (based on purchases) $176,000 F
Direct materials efficiency variance $69,000 U
Standard cost per pound of direct materials $11.50
Standard allowance of direct materials for each unit of product 3 pounds
Direct materials price variances $1.10 per pound
During the month 30,000 units of product were produced. There was no beginning inventory of direct materials. There was no beginning or ending work in process.
Any help would be great, because I am stumped!