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Ceelo Company purchased (at a cost of $9,010) and used 1,700 pounds of materials during May. Ceelos standard cost of materials per unit produced is
Ceelo Company purchased (at a cost of $9,010) and used 1,700 pounds of materials during May. Ceelos standard cost of materials per unit produced is based on 3 pounds per unit at a cost $5.50 per pound. Production in May was 477 units. (a) Compute the total, price, and quantity variances for materials. (Round answers to 0 decimal places, e.g. 125.)
Total Materials Variance | $
| Favorable / Neither favorable nor unfavorable / Unfavorable | ||
Materials Price Variance | $ | Favorable / Unfavorable / Neither favorable nor unfavorable | ||
Materials Quantity Variance | $ | Neither favorable nor unfavorable / Unfavorable / Favorable |
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