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Assume that the standard cost to make one unit of product includes 5 pounds of raw materials at a price of $ 4 . 5
Assume that the standard cost to make one unit of product includes pounds of raw materials at a price of $ per pound. In November, pounds of raw materials were purchased for $ and pounds of raw materials were used to produce units of finished product.
What is the materials price variance and quantity variance?
Material Price Variance $ F Material Quantity variance $ UF
Material Price Variance $ U Material Quantity variance $ F
Material Price Variance $ U Material Quantity variance $ F
Material Price Variance $ F Material Quantity variance $ U
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