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Compute the materials efficiency variance

    Assignment Instructions

    Assignment ID: FG133135502

    Question – The following information is available for Great Outdoors Corporation, which produces sturdy camping chairs.

    Actual camping chairs produced = 5,000

    Actual direct materials purchased and used = 21,250 pounds

    Actual direct materials cost per pound = $4.90 per pound

    Budgeted camping chairs produced = 5,500

    Budgeted direct materials purchased and used = 22,000 pounds

    Budgeted total spending on direct materials = $110,000

    Required – Use the information presented for Great Outdoors to compute the materials spending variance.

    Use the information presented for Great Outdoors to compute the materials efficiency variance.

    Use the information presented for Great Outdoors to compute the materials activity variance.

    Using the information presented for Great Outdoors, which of the following statements are true? (Choose all that apply.)

    1) The materials spending variance is favorable

    2) The materials efficiency variance is favorable.

    3) The materials activity variance is favorable.

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