Splish Company budgeted the following cost standards for the current year: Direct...
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Accounting
Splish Company budgeted the following cost standards for the current year:
| Direct materials (2 kg of plastic at $6.00 per kilogram) | $12.00 | ||
| Direct labour (2 hours at $12 per hour) | 24.00 | ||
| Variable manufacturing overhead | 10.05 | ||
| Fixed manufacturing overhead | 6.30 | ||
| Total standard cost per unit | $52.35 |
Actual costs for producing 2,730 units were as follows:
| Direct materials used | 5,980 | kg | ||
| Direct materials purchased (6,580 kg) | $38,164 | |||
| Direct labour (6,930 hours) | $67,914 | |||
| Variable manufacturing costs | $33,000 | |||
| Fixed manufacturing costs | $17,900 |
(b)
Calculate the materials quantity variance.
| Materials quantity variance | $enter the materials quantity variance in dollars | select an option UnfavourableNeither favourable nor unfavourableFavourable |
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