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Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962 Exercise 4
(Appendix 10A) Materials Variances, Journal Entries
Esteban Products produces instructional aids, including white boards, which use colored markers instead of chalk. These are particularly popular for conference rooms in educational institutions and executive offices of large corporations. The standard cost of materials for this product is 12 pounds at $8.25 per pound.
During the first month of the year, 3,200 boards were produced. Information concerning actual costs and usage of materials follows:
Required:
1. Compute the materials price and usage variances.
2. Prepare journal entries for all activity relating to materials.
Esteban Products produces instructional aids, including white boards, which use colored markers instead of chalk. These are particularly popular for conference rooms in educational institutions and executive offices of large corporations. The standard cost of materials for this product is 12 pounds at $8.25 per pound.
During the first month of the year, 3,200 boards were produced. Information concerning actual costs and usage of materials follows:
Required:
1. Compute the materials price and usage variances.
2. Prepare journal entries for all activity relating to materials.
Explanation
Verified
Verified
In the given situation, the variances an...
Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
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