Hey there,

Could someone please help me with this one? Ive attached both the question as well as the format.

Thank you so much!

Direct Materials Variances E6A.Creative Productions manufactured and sold 800 products the past year. At the beginning of the year, production had been set at and direct materials standards had been set at 10 pounds of direct materials pound for each product produced. During the year, the company purchased and used 7,900 pounds of direct materials with a cost of $12.02 per pound. Calculate the com- pany's dircct materials price and quantity variances for the year $10,000 each during 1,000 products, $12 per at at CH 22 Problem E6A. Direct Materials Variances (No diagram required) Computation of direct materials price variance: Standard direct materials price Less actual direct materials price Difference Direct Materials Price Variance Standard Price x (Standard Quanity - Acutal Quanity) Computation of direct materials quanity variance: Standard quanity Less actual quanity Difference in quanity (DM Standards x sold products) lbs Ibs Ibs Direct Materials Quantity Varian ce Standard Price- Actual Price) x Acutal Quanity