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Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402 Exercise 51
Direct Materials Variances: Journal Entries
Refer to Exercise 9.17. Chypre, Inc., purchased the amount used of each direct material input on May 2 for the following actual prices: solvent mix for $5.20 per gallon, and aromatic compound for $8,010 per gallon.
Required:
1. Compute and journalize the direct materials price variances.
2. Compute and journalize the direct materials usage variances.
3. Offer some possible reasons for why the variances occurred.
Refer to Exercise 9.17. Chypre, Inc., purchased the amount used of each direct material input on May 2 for the following actual prices: solvent mix for $5.20 per gallon, and aromatic compound for $8,010 per gallon.
Required:
1. Compute and journalize the direct materials price variances.
2. Compute and journalize the direct materials usage variances.
3. Offer some possible reasons for why the variances occurred.
Explanation
Verified
Verified
1.Direct materials price variance =
S...
Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
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