Tower Company planned to produce 3,000 units of its single product,Titactium,during November.The standards for one unit of Titactium specify six pounds of materials at $0.30 per pound.Actual production in November was 3,100 units of Titactium.There was an unfavorable materials price variance of $380 and a favorable materials quantity variance of $120.Based on these variances,one could conclude that:
A) more materials were purchased than were used.
B) more materials were used than were purchased.
C) the actual cost per pound for materials was less than the standard cost per pound.
D) the actual usage of materials was less than the standard allowed.
Correct Answer:
Verified
Q13: The standard quantity per unit for direct
Q14: When more hours of labor time are
Q15: Which department should usually be held responsible
Q16: The purchasing agent of the Clampett Company
Q17: The materials price variance is computed by
Q19: If the labor efficiency variance is unfavorable,then
A)actual
Q20: A labor efficiency variance resulting from the
Q21: The following standards for variable manufacturing overhead
Q22: The following materials standards have been established
Q23: The standard cost card for a product
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