The following direct materials data pertain to the operations of Whispering Winds Co. for the...
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Accounting
The following direct materials data pertain to the operations of Whispering Winds Co. for the month of December.
Standard materials price $5.00 per pound
Actual quantity of materials purchased and used 17,000 pounds
The standard cost card shows that a finished product contains 4 pounds of materials. The 17,000 pounds were purchased in December at a discount of 4% from the standard price. In December, 4,130 units of finished product were manufactured.
How do I find Materials Price Variance, Materials Quantity Variance and Total Materials Variance?
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