Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials price variance is: $$\begin{array} { l l }
\text { Direct materials standard } ( 7 \mathrm {~kg} @ \$ 2 / \mathrm { kg } ) & \$ 014 \text { per finished unit } \
\text { Actual cost of materials purchased } & \$ 322,500 \
\text { Actual direct materials purchared and used } & 150,000 \text { lbs. }
\end{array}$$

Question

Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials price variance is: $$\begin{array} { l l } 
\text { Direct materials standard } ( 7 \mathrm {~kg} @ \$ 2 / \mathrm { kg } ) & \$ 014 \text { per finished unit } \
\text { Actual cost of materials purchased } & \$ 322,500 \
\text { Actual direct materials purchared and used } & 150,000 \text { lbs. }
\end{array}$$

Quizplus · Accepted Answer

The Answer of Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials price variance is: $$\begin{array} { l l } 
\text { Direct materials standard } ( 7 \mathrm {~kg} @ \$ 2 / \mathrm { kg } ) & \$ 014 \text { per finished unit } \
\text { Actual cost of materials purchased } & \$ 322,500 \
\text { Actual direct materials purchared and used } & 150,000 \text { lbs. }
\end{array}$$

Parallel Enterprises Has Collected the Following Data on One of Its