Question
The following materials standards have been established for a particular product: Standard quantity per unit of output 4.2 grams Standard price $13.00 per grams The
The following materials standards have been established for a particular product: |
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Standard quantity per unit of output | 4.2 | grams |
Standard price | $13.00 | per grams |
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The following data pertain to operations concerning the product for the last month: |
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Actual materials purchased | 3,100 | grams |
Actual cost of materials purchased | $ 36,115 |
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Actual materials used in production | 2,400 | grams |
Actual output | 500 | units |
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The direct materials purchases variance is computed when the materials are purchased. |
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a. | What is the materials price variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.) | |||
Materials Price Variance |
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b. | What is the materials quantity variance for the month? (Input the amount a as positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.) |
Materials Quantity Variance |
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