Essay
Aquatic Corp.'s standard material requirement to produce one Model 2000 is 15 pounds of material at $110 per pound. Last month, Aquatic purchased 170,000 pounds of material at a total cost of $17,850,000. It used 162,000 pounds to produce 10,000 units of Model 2000.
Determine the direct materials price variance and direct materials quantity variance, and indicate whether each variance is favorable or unfavorable.
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Actual Cost = $17,850,000 ÷ 170,000 poun...View Answer
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