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Ceelo Company purchased (at a cost of $23,290) and used 3,400 pounds of materials during May. Ceelos standard cost of materials per unit produced is
Ceelo Company purchased (at a cost of $23,290) and used 3,400 pounds of materials during May. Ceelos standard cost of materials per unit produced is based on 1 pounds per unit at a cost $7.00 per pound. Production in May was 3,340 units.
Compute the total, price, and quantity variances for materials. (Round answers to 0 decimal places, e.g. 125.)
Total Materials Variance | $ | FavorableUnfavorableNeither favorable nor unfavorable | ||
Materials Price Variance | $ | UnfavorableFavorableNeither favorable nor unfavorable | ||
Materials Quantity Variance |
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