Materials Variances of plastic.

Required:

Materials Price Variance $

Material Usage Variance $

Materials Vanances Young Inc. produces plastic bottles. Productjon of 16-ounce bottles has a standard unit quanbty of 0.45 ounce of plastic per bottle. Dunng the month of June, 240,000 bottles were produced ustng 110,000 ounces of plastic. The actual cost of plastic was $0.042 per ounce, and the standard price was $0.045 per ounce. There is no beginning or ending inventories of plastic. Required: Calculate the matenals price and usage variances using the columnar and formula approaches. Enter amounts as positive numbers and select Favorable or Unfavorable. Materials Price Variance Material Usage Variance CZZ)