Assume that the standard cost to make one unit of product includes $5$ pounds of raw materials at a price of $$4\mathrm{.}5$ per pound. In November, $35,000$ pounds of raw materials were purchased for $$133,000,$ and $31,000$ pounds of raw materials were used to produce $5,000$ units of finished product.

What is the materials price variance and quantity variance?

Material Price Variance $$(139,496)$ F$,$ Material Quantity variance $$112,494$ UF

Material Price Variance $$21,700$ U$,$ Material Quantity variance $$(27,000)$ F

Material Price Variance $$139,496$ U$,$ Material Quantity variance $$(112,494)$ F

Material Price Variance $$(21,700)$ F$,$ Material Quantity variance $$27,000$ U