E25-5 compte materials price and gapiry wariance The standard cost of Product B manufactured by Pharrell Company includes three units of direct materials at 55.00 per unit. During June, 29,000 units of direct materials are purchased at a cost of $4.70 per unit, and 29.000 nits of direct materials are used to produce 9,400 units of Product B. Instrucvons Ko) Compute the total materials variance and the price and quantity variances. b) Repeat (a), assuming the purchase price is SS. 15 and the quantity purchased and used is 28,000 units NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". AQ - Actual Quantity AP - Actual Price SQ - Standard Quantity SP - Standard Price (a) Compute the total materials variance and the price and quantity variances, Total Materials Variance: ( AQ AP minus Value Value ) ? minus ( Variance XX SQ Value SP Value ? > ) 2 F Materials price variance: AQ Value XX minus ) Variance AP Value ? ) 2 AQ Value X ( SP Value ? minus ? F Materials quantity variance ( Value AQ SP Value ? Variance minus minus minus SQ Value ) SP Value ? ) ) ? U U (b) Repeat (a), assuming the purchase price is $5.15 and the quantity purchased and used is 28,000 units Total Materials Variance AQ ( Value minus Variance XX AP Value ? ) ) ( ( SQ Value X X SP Value ? ) 2 minus - 2 F Materials prise varianse: ( AQ ( Value minus X Variance AP Value 2 ) ) AQ Value X SP Value ? ) ) ( minus U Materials quantity variance: ( AQ Value minus ( ) Variance SP Value ? SO Value XX SP Value ? minus ? F