ACCT 002 Lecture Notes - Lecture 17: Minivan

• School: College of The Sequoias
• Department: Accounting (ACCT)
• Course: ACCT 002
• Professor: teller

Document Summary

Standard cost ; allowable deviation ; actual costs for 6 months: Nov 112500 only have to investigate november cuz it is above the range. Standard usage = 550 grams per bag. Actual production = 48500 bags of chips. Sq = 550 * 48500 = 26,675,000 grams. Calc the total variance for corn 1st week of march. Actual costs= aq * ap = 26m * sh. 02 per 100gs = . Budgeted costs = sq*sp = 26,675,000 *sh. 018 per 100gs = . 50. Total variance = actual costs - budgeted costs = 5200 - 4801. 50. Materials price variance (mpv) = (ap - sp) aq. Measures the difference between what should have been paid for raw materials and what was actually paid. Materials usage variance (muv) = (aq - sq) sp. Measures the difference between the direct materials used and the direct materials that should have been used for the actual output. Cornerstone 10. 4 calc material price and usage variance.