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The following information is available for Waterways Chocolates: Actual production 2,980 boxes Budgeted production 3,630 boxes Direct Materials Standard 1.5 pounds of chocolate per box
The following information is available for Waterways Chocolates:
Actual production | 2,980 | boxes | |
Budgeted production | 3,630 | boxes |
Direct Materials | |
Standard | 1.5 pounds of chocolate per box @ $8.01 per pound |
Actual | 6,610 pounds purchased @ $7.72 per pound |
4,820 pounds used @ $7.72 per pound |
(a) Calculate the direct materials price and quantity variances. (Round answers to 0 decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter 0 for the amounts.)
Direct material price variance | (favorable/unfavorable/NA) |
| |
Direct material quantity variance | (favorable/unfavorable/NA) |
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