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Goldman, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is 1.0 pound per class at a cost of $.50 per
Goldman, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is 1.0 pound per class at a cost of $.50 per pound. The actual results for one month's production of 7200 glasses was 1.1 pounds per glass, at a cost of $.40 per pound. Calculate the direct materials cost variance and the direct material efficiency variance.
Identify whether the varience is favorable (F) or unfavorable (U).
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