Cmipter 18 Standard Costs and mnrane rate of STANDARD COSTING QUESTIONS: Answer the follow ing unrelated questions a.) The following materials standards have been established for a particular product Standard quantity per unit of output 1.7 metres Standard price S19.80 per metre The followin g data pertain to operations concerning the product for the last month Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 5,800 m etres S113,680 5, 100 metres 3,200 unit Calculate the material variance and record the journal entries for price and quantity variances separately AP