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Author Question: Seraphine Corporation manufactures rhinestone-studded jewelry boxes. The following materials ... (Read 71 times)

crazycityslicker

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Seraphine Corporation manufactures rhinestone-studded jewelry boxes.  The following materials standards have been established for the rhinestones used to decorate the jewelry boxes.

Standard quantity per jewelry box (grams)4.0
Standard price per gram of rhinestones $2.50

The following data relates to the production of the jewelry boxes during June:

Actual rhinestones purchased and used (grams)1,200
Actual cost of rhinestones purchased $2,350
Actual number of jewelry boxes produced450

What is the materials price variance for rhinestones in June?
◦ $3,000 favourable
◦ $3,000 unfavourable
◦ $650 favourable
◦ $650 unfavourable


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Marked as best answer by crazycityslicker on Jan 5, 2020

Jayson

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crazycityslicker

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Reply 2 on: Jan 5, 2020
Thanks for the timely response, appreciate it


raili21

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Reply 3 on: Yesterday
Wow, this really help

 

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