In reviewing activity for July, the controller of Mathis, Inc., collected the following data concerning...
60.1K
Verified Solution
Link Copied!
Question
Accounting
In reviewing activity for July, the controller of Mathis, Inc., collected the following data concerning direct materials:
| Actual production | $ | 103,000 | units |
| Direct materials purchased (actual) | $ | 1,642,800 | |
| Standard cost of materials purchased | $ | 1,554,000 | |
| Standard direct materials costs per unit produced | 14 | ||
| Standard price times actual amount of materials used | $ | 1,405,950 | |
Required:
Compute the direct materials cost variances. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.