Exercise 6-6 Crane WaterWorks manufactures snorkel gear During the past month, W

Question

Exercise 6-6 Crane WaterWorks manufactures snorkel gear During the past month, Washington purchased 4,060 pounds of plastic to use in its dive masks, at a cost of Calculate Crane's direct materials price variance for the month (Round answer to o decimal places, a.g. 5,275. If variance is zero, select "Not standard price for the plastic is $1.446 per pound. The company actually used 3,980 pounds of the plastic to produce 17,000 dive masks Applicable" and enter O for the amounts) Direct material price variance LINK TO TEXT VIDEO SIMILAR EXERCESE

Explanation / Answer

Direct material price variance = (Standard price - actual price) x Actual quantity used
= ($1.446 - $6,224 / 4,060) x 3,980
= $346 Unfavorable

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