Materials Quantity Variance

Standard Quantity or Hours Standard Price or Rate 1.60 stents per procedure 1.70 hours per procedure $1,220 per stent $270 per hour Direct materials (stents) Direct labor (cardiologist) For the most recent year, the hospital reported the following actual data: 31 Number of procedures performed Number of stents purchased and used Total cost of stents purchased and used $57,200 Number of direct labor hours Total cost of direct labor 48 57 $15,500 Compute the materials quantity variance