Question #13

The standards for product U31 call for 7.1 liters of a raw material that costs $12.10 per liter. Last month, 1, 900 liters of the raw material were purchased for $23, 180. The actual output of the month was 200 units of product U31. A total of 1, 200 liters of the raw material were used to produce this output. a. What is the materials price variance for the month? b. What is the materials quantity variance for the month