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Speedway Tees is a manufacturer of T-shirts. The standard amount of 100% cotton jersey fabric used to make each T-shirt is 2.70 yards. The standard
Speedway Tees is a manufacturer of T-shirts. The standard amount of 100% cotton jersey fabric used to make each T-shirt is 2.70 yards. The standard price per yard of the fabric is $2.76. During last month, Speedway purchased 6,100 yards of the jersey fabric for $13,420. The production department used 5,100 yards to produce 1,900 T-shirts during the month.
Compute the material price and quantity variances. (Round answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.)
Material Price Variance $
UnfavorableFavorableNeither Unfavorable nor Favorable
Material Quantity Variance $
FavorableNeither Unfavorable nor FavorableUnfavorable
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