he standards for product V$28$ are as follows:

Standard quantity$9\mathrm{.}0$ kilograms

Standard price$$19\mathrm{.}80$ per kilogram

The following data applied to last month:

Raw materials purchased $3000$ kilograms

Total cost of materials purchased$$58,800$

units produced $310$

All the raw materials purchased were used in production.

Required:

Calculate the material price variance. $(3$ marks$)$

Total cost of materials purchased

Total standard cost of materials purchased

Material price variance

Calculate the material quantity variance. $(4$ marks$)$

Total standard cost of materials purchased