Home Company manufactures tables with vinyl tops. The standard material cost for the vinyl user per Type-R table is $7.80 based on six square feet of vinyl at a cost of $1.30 per square foot. A production run of 1,000 tables in January 20XX resulted in usage of 6,400 square feet of vinyl at a cost of $1.20 per square foot, a total cost of $7,680. Raw materials are carried at actual cost.

Compute:

a) a) Materials quantity variance.

b) b) Materials price variance.

NoNote: Please provide detailed works toward solutions.

dd