Ayers Company reports the following standards for direct materials for the year: Standard cost per...
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Ayers Company reports the following standards for direct materials for the year: Standard cost per pound Standard amount per finished good $4.75 8.5 pounds During the year, 460,000 finished goods were produced. The direct materials price variance was $14,200 unfavorable. The direct materials flexible budget variance was $980 favorable. Calculate the following items regarding direct materials for Ayers Company for the year: a. Direct materials quantity variance b. Standard quantity of direct materials for actual production Actual pounds of Actual Quantity Direct Materials Used (AQU) for actual C. production
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