JackJoe, Inc. standard costing provided below.During 20x1, JackJoe Inc. used 410,000 of raw materials to produce 200,000 units of finished goods.Devise a two way variance analysis (5 points) and compute 1. Price variance favorable or unfavorable (5 points) 2. Quantity variance favorable or unfavorable (5 points) 3. Actual price per unit (5 points)

Assumptions

Year X1

Units sold

200,000

Raw material units per unit sold (standard)

2

Budgeted raw material cost per unit

$1.00

Total Raw material cost variance - Unfavorable

$10,000