Direct materials variances Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.20 per pound. 16,200 units used

Direct materials variances Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.20 per pound. 16,200 units used 36,800 pounds, which were purchased at $3.40 per pound. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance $ b. Direct materials quantity variance $ c. Direct materials cost variance Transcribed Image Text: Direct materials variances
Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.20 per pound. 16,200 units used 36,800 pounds, which
were purchased at $3.40 per pound.
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
Open spreadsheet
What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a
negative number using a minus sign and an unfavorable variance as a positive number.
a. Direct materials price variance
b. Direct materials quantity variance
c. Direct materials cost variance
%24
%24
%24 Transcribed Image Text: C15
A
Direct materials variances
B
I
C.
1
The following data is provided for Bellingham Company:
15
Resources’ requirements, standard pounds per un
Resources’ standard price, per pound
Units produced
Resources used for production, pounds
10 Resources’ actual price, per pound
DATA
2.3
$3.20
16,200
36,800
$3.40
Using formulas and cell references, perform the required analysis, and input your answers into the green cells in
the Amount column. Select the corresponding type of variance in the dropdowns in cells D15:D17. Transfer the
numeric results for the green entry cells (C15:C17) into the appropriate fields in CNOWV2 for grading.
12
13
14
15
Amount
Formulas
a. Direct materials price variance
16 b. Direct materials quantity variance
17
c. Direct materials cost variance
18
19

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