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The following data pertains to the month of October for ElmCo when production was budgeted to be 5,000 units of product P90. P90 has
The following data pertains to the month of October for ElmCo when production was budgeted to be 5,000 units of product P90. P90 has budgeted costs per unit of: Direct Materials Direct Labor 3 lbs. at $7.00 per lb. 0.20 hours at $18.00 per hour In October the production of P90 totaled 4,900 units. The actual results were: Direct Materials used: Direct Labor hours used: 15,100 lbs costing $102,000 828 hours costing $15,732 Determine the direct materials quantity variance. Negative numbers indicate a favorable variance. (Round to the nearest $1.00)
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