The following direct materials data pertain to the operations of Concord Wealth Manufacturing Company for the month of March:

Standard materials price

Actual quantity of material purchased and used

$$8\mathrm{.}60$ per kilogram

$72,000$ kilograms

The standard cost card shows that a finished product contains $4\mathrm{.}75$ kilograms of material. The $72\mathrm{.}000$ kilograms were purchased in March at a discount of $10\%$ from the standard price. In March, $14,400$ units of finished product were manufactured.

Prepare a matrix for materials and calculate the materials variances.

Actual Quantity $$ Actual Rate

$

$

Price Variance $$

Actual Quantity $$ Standard Rate $q,$

$

Standard Quanti $$ Standard Pric $q,$

$ $q,$

$q,$ Quantity Variance

$5$

Total Materials Variance

$5$