Question
Question 8.1 (Total: 18 marks) The following materials standards have been established for product Wand: Standard quantity per unit of output 10.0 kilograms Standard price
Question 8.1 (Total: 18 marks)
The following materials standards have been established for product Wand:
| Standard quantity per unit of output | 10.0 kilograms |
| Standard price | $16.20 per kilograms |
The following data pertains to operations concerning product Wand for the last month:
| Actual materials purchased | 7,300 kilograms |
| Actual cost of materials purchased | $120,000 |
| Actual materials used in production | 7,122 kilograms |
| Actual output | 740 units |
Required:
- What is the materials price variance for the month?
- What is the materials quantity variance for the month?
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Introduction To Health Care Management
Authors: Sharon B. Buchbinder, Nancy H. Shanks
3rd Edition
128408101X, 9781284081015
