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The following information applies to Company A's materials cost. Actual Cost: 4,100 lbs. @ $5.07 per lb. = $20,787 Standard Cost: 4,000 lbs. @ $5.00

The following information applies to Company A's materials cost. Actual Cost: 4,100 lbs. @ $5.07 per lb. = $20,787 Standard Cost: 4,000 lbs. @ $5.00 per Ib. = $20,000 Direct Materials Cost Variance: $787 Calculate the price and quantity variance

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