• Perform variance analysis for Intel Corporation's direct materials for April 2023.
• Use the following data:
  • Standard Cost per Unit of Material: $4
  • Actual Cost per Unit of Material: $4.25
  • Standard Quantity of Material Allowed for Actual Production: 2,000 units
  • Actual Quantity of Material Used: 2,200 units

Question:

Using the given data, calculate the direct materials price variance and the direct materials quantity variance for Intel Corporation for April 2023. Show your calculations.