HWT Plc uses a standard costing system and maintains its material stock account at standard costs. The standard cost card reveals a requirement of 8kg of material at $0.80/kg. The Budgeted production for September was 850 units. The actual production was recorded at 870 units. 8200kg of materials were purchased costing $6888. Material issued to production was 7150kg. Which of the following correctly states the material price and usage variances to be reported?
Price: $328 (A); Usage: $152 (A)
0%
Price: $286 (A); $280 (A)
0%
Price: $286 (A); Usage: $152 (A)
0%
Price: $286 (A); Usage: $294 (A)
0%

Question

HWT Plc uses a standard costing system and maintains its material stock account at standard costs. The standard cost card reveals a requirement of 8kg of material at $0.80/kg. The Budgeted production for September was 850 units. The actual production was recorded at 870 units. 8200kg of materials were purchased costing $6888. Material issued to production was 7150kg. Which of the following correctly states the material price and usage variances to be reported?

Price: $328 (A); Usage: $152 (A)

0%

Price: $286 (A); $280 (A)

0%

Price: $286 (A); Usage: $152 (A)

0%

Price: $286 (A); Usage: $294 (A)

0%

Answer

Price: $328 (A); Usage: $152 (A)

Answer

Price: $286 (A); $280 (A)

Answer

Price: $286 (A); Usage: $152 (A)

Answer

Price: $286 (A); Usage: $294 (A)

Crowdly

HWT Plc uses a standard costing system and maintains its material stock account ...

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