Question

The Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total...

The Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total cost of $1,677,000 ($13 per board foot). Original production had been budgeted for 22,000 units with a standard material quantity of 5.7 board feet per unit and a standard price of $12 per board foot. Actual production was 23,500 units.

1.   Compute the material price variance.

a.

0

b.

129,000U

c.

59,400F

d.

59,400U

2. Compute the material quantity variance.

a.

63,000F

b.

63,000U

c.

59,400F

d.

59,400U

3. The total direct material variance is:

a. $69,600U

b. 69,600F

c. $129,000U

d. none of the above

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