Best Sign Company produces billboard sign frames. These frames are constructed to make billboards you read as you drive down the highway.

Each frame typically requires 1,100 pounds of boards.

The standard cost for granite is estimated at $270 per ton (2000 pounds).

During a recent month 500 frames were constructed.

The company purchased and used 330 tons of material at a cost of $250 per ton.

Compute the following:

Actual cost of direct materials

Standard cost of direct materials

Total materials variance (standard cost v. actual cost)

The favorable or unfavorable materials price variance

The favorable or unfavorable materials quantity variance