cost of $$710,400.$ A total of $10,600$ grams were used last month to produce $1,000$ rings.

Read the requirements ${?}^1.$

Requirement $1.$ What is the actual cost per gram of the special alloy that Collegiate Rings purchased last month? $($Round your answer to the nearest cent.$)$

The actual cost per gram of the special alloy that Collegiate Rings purchased last month is

Requirement $2.$ What is the direct material price variance? $($Abbreviations used: DM $=$ Direct materials$)$

as favorable $(F)$ or unfavorable $($U$).)$

Requirement $3.$ What is the direct material quantity variance? $($Abbreviations used: DM $=$ Direct materials$)$

favorable $($F$)$ or unfavorable $($U$).)$

$(),(6),=DM$ quantity variance

$J()=1,(8)$

Requirement $4.$ How might the direct material price variance for the company last month be causing the direct material quantity variance?

The $(9)$

direct material price variance might mean that Collegiate Rings purchased a $(1$C

As a result, the company $(11$;

alloy than the standard allows. This accounts for the $(12)$

quantity $($efficiency$)$

variance.

$1$: Requirements

What is the actual cost per gram of the special alloy that Collegiate Rings purchased last month?

What is the direct material price variance?

What is the direct material quantity variance?

How might the direct material price variance for the company last month be causing the direct material quantity variance?