Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.45 per pound. 15,700
units used 35,400 pounds, which were purchased at $3.65 per pound. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet What is the direct materials (a) price variance,
(b) quantity variance, and
(c) cost variance?
Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
a. Direct materials price variance $
b. Direct materials quantity variance $
c. Direct materials cost variance $
Financial accounting is the process of preparing financial reports which possesses the information for investors, creditors, employees and all the stakeholders of the company.
Debt certificate is a written agreement of purchasing a bond from a private company or government, it gives information regarding the maturity date, face value and principal amount. They are normally issued to consumers and business, but investors can also buy bonds or debt certificate by buying the right to loans and mortgages, it allows them to buy debt certificates.
