compute the direct material quantity variance for may.

compute the direct material price variance for may.

Shaw Industries employs a standard cost system. Shaw has established the following standards for the prime costs of one unit of product. Standard Quantity Standard Price Standard Cost $1.80 per Direct materials 8 pounds pound $14.40 $8.00 per hour Direct labor 0.25 hour $ 2.00 During May, Shaw purchased 160,000 pounds of direct material at a total cost of $304,000. The total direct labor wages for May were $37,800. Shaw manufactured 19,000 units of product during May using 142,500 pounds of direct material and 5,000 direct labor hours