Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. abc company has set the following standards for on

ABC Company has set the following standards for one unit of product: Direct materials: 0.5...

70.2K

Verified Solution

Question

Accounting

ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds @ $1.00 per pound; Direct labor: 1 hour @ $10.00 per hour. The company produced 35,000 units and had the following actual costs: Direct materials: 18,000 pounds at a total cost of $17,280; Direct labor: 36,000 hours at a total cost of $374,400. Compute the direct materials price variance

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

10. Given the data below, what is ∆Hr for the reaction: FeO   + CO → CO2...

Physics
1.2K views

If we dropped a car weighing 4451 lbs. from a C-130 aircraft at 5,280 ft, how...

General Management
1.2K views

Describe the process by which organizations develop their information systems. - Minimum 200 words

Statistics
1.2K views

The boxplot below shows salaries for CPAS and Actuaries in a town CPA T Actuary...

Calculus
1.2K views

Given the equation y = 4 sin(5x - 35) + 2The amplitude is:The period is:The...

Algebra
1.2K views

The following graph shows a stock s actual market price and intrinsic value over time...

Algebra
1.2K views

Part 1 Predict the next 2 terms in the sequence State whether the sequence is...

Algebra
1.2K views

Write the expression in radical form 71 b b C

Accounting
1.2K views

The Stallard Corporation manufactures Product X that consumes a large amount of overhead. For the...

Accounting
1.2K views

How do I calculate Bad Debt Expense in accounting

Accounting
1.2K views

The Windshield division of Fast Car Co. makes windshields for use in Fast Car's Assembly...

Finance
1.2K views

If a share has a beta of 1.27 this means that it: A. has a...