Essay
Camps Inc.has a standard cost system.The standards for direct materials for one of its products specify 4.4 ounces of a particular input per unit of output at a standard cost of $6.40 per ounce.The company has reported the following actual results for the product for May:
Required:
a.Compute the materials price variance for this input for May.
b.Compute the materials quantity variance for this input for May.
Correct Answer:
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a.Materials price variance = (AQ × AP)− ...View Answer
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