direct materials
Standard Quantity	100,000
Actual Quantity	80,000
Standard Price	$3
Actual Price	$4

Westminster has set control limits stating that actual costs should be investigated if they fall outside the acceptable range of the standard materials cost 10%.

i. What is the standard materials cost?

ii. What are the upper and lower control limits?

iii. What is the actual materials cost?

iv. Should the actual materials cost be investigated?