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Hart Company made 3,240 shelves using 22,240 pounds of wood costing $295,792. The company's direct materials standards for one shelf are 8 pounds of wood at $13.20 per pound. Exercise 8-13 (Algo) Computing and analyzing materials variances LO P3 AQ=Actual Quantity SQ Standard Quantity AP = Actual Price SP=Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances along with the total direct materials variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost + Standard Cost

Hart Company made 3,240 shelves using 22,240 pounds of wood costing $295,792. The company's direct materials standards for one shelf are 8 pounds of wood at $13.20 per pound. Exercise 8-13 (Algo) Computing and analyzing materials variances LO P3 AQ=Actual Quantity SQ Standard Quantity AP = Actual Price SP=Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances along with the total direct materials variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost + Standard Cost

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 5PA: Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but...
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Hart Company made 3,240 shelves using 22,240 pounds of wood costing $295,792. The company's direct materials standards for one shelf are 8 pounds of wood at $13.20 per pound. Exercise 8-13 (Algo) Computing and analyzing materials variances LO P3 AQ=Actual Quantity SQ Standard Quantity AP = Actual Price SP=Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further?
Transcribed Image Text:Hart Company made 3,240 shelves using 22,240 pounds of wood costing $295,792. The company's direct materials standards for one shelf are 8 pounds of wood at $13.20 per pound. Exercise 8-13 (Algo) Computing and analyzing materials variances LO P3 AQ=Actual Quantity SQ Standard Quantity AP = Actual Price SP=Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further?
1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances along with the total direct materials variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost + Standard Cost
Transcribed Image Text:1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances along with the total direct materials variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost + Standard Cost
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