Silicone Engine Inc. produces wrist-worn tablet computers. The company uses Thin Film Crystal (TFC) LCD displays for its products. Each tablet uses one display. The company produced 500 tablets during December. However, due to LCD defects, the company actually used 520 LCD displays during December. Each display has a A detailed estimate of what a product should cost.standard cost of $6.70. 520 LCD displays were purchased for December production at a cost of $2,890.

Determine the Price variance is the difference between the actual and standard prices, multiplied by the actual quantity, price variance, The cost associated with the difference between the standard quantity and the actual quantity of direct materials used in producing a commodity, quantity variance, and total direct materials The difference between actual cost and standard cost at actual volumes. cost variance for December. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive numb