A company manufacturesrefrigerators at the rate of 500 units per week, and the standard cost...
70.2K
Verified Solution
Link Copied!
Question
Accounting
A company manufacturesrefrigerators at the rate of 500 units per week, and the standard cost of a material used in their manufacture for 2000 units is expected to be: 1200 kg (0.6 kg per unit) @ $1.75 per kg = 2100 During the month of February production data showed that 1800 units were produced that required 1000 kg of material and the purchase price was $1.60 per kg. a) Calculate the adjusted standard costs for production based upon this material data. b) Calculate all three of the material variances.
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!
