Computing Materials and Labor Variances

In March, assume that General Mills Inc. purchased milk to use in the production of Yoplait yogurt. During March, General Mills manufactured $4,500$ containers of yogurt for commercial use. The following information is available about standard and actual quantities and costs. There were no beginning or ending materials inventories.

$\backslash$table$[[$Standard for One Unit,Actual Usage for March$],[$Direct material,$21$ pounds @ $$1\mathrm{.}1$ per pound,$100,500$ pounds @ $$1\mathrm{.}0$ per pound$],[,1$ hour @ $$16$ per DLH$,6,400$ DLHs @ $$16\mathrm{.}50$ per DLH$]]$

REQUIRED

a$.$ Compute the material price variance and the material quantity variance.

Note: Enter your answers as positive numbers.

$\backslash$table$[[$Materials price variance,$$,0Fvv$