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The Following Direct Materials Data Pertain to the Operations of Wright

Question 2

Essay

The following direct materials data pertain to the operations of Wright Co. for the month of December.
Standard materials price $5.00 per pound
Actual quantity of materials purchased and used 16500 pounds
The standard cost card shows that a finished product contains 4 pounds of materials. The 16500 pounds were purchased in December at a discount of 4% from the standard price. In December 4000 units of finished product were manufactured.
Instructions
Prepare a matrix for materials and calculate the materials variances. The following direct materials data pertain to the operations of Wright Co. for the month of December. Standard materials price $5.00 per pound Actual quantity of materials purchased and used 16500 pounds The standard cost card shows that a finished product contains 4 pounds of materials. The 16500 pounds were purchased in December at a discount of 4% from the standard price. In December 4000 units of finished product were manufactured. Instructions Prepare a matrix for materials and calculate the materials variances.

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