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The following data relate to the direct materials cost for the production of 2,500 automobile tires: Actual: 58,300 lbs. at $1.75 per lb. Standard: 56,600
The following data relate to the direct materials cost for the production of 2,500 automobile tires:
Actual: | 58,300 lbs. at $1.75 per lb. | |
Standard: | 56,600 lbs. at $1.70 per lb. |
a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
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