{"id":22874,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/materials-price-and-quantity-variances"},"modified":"2017-08-03T16:11:40","modified_gmt":"2017-08-03T16:11:40","slug":"materials-price-and-quantity-variances","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/materials-price-and-quantity-variances\/","title":{"rendered":"Materials price and quantity variances"},"content":{"rendered":"<div class=\"the_content_wrapper\">\n<p>Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.33 per micron Direct labor: 1.1 hours per toy at $6.90 per hour During July, the company produced 5,300 Maze toys. Production data for the month on the toy follow: Direct materials: 80,000 microns were purchased at a cost of $0.30 per micron. 40,250 of these microns were still in inventory at the end of the month. Direct labor: 6,330 direct labor-hours were worked at a cost of $46,209.<\/p>\n<p>Compute the following variances for July:<\/p>\n<p>a) Materials price and quantity variances.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.33 <a href=\"https:\/\/www.benedictsol.com\/blogs\/materials-price-and-quantity-variances\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-22874","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/22874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=22874"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/22874\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=22874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=22874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=22874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}