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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:

Standard quantity per unit of output

4.2

grams

Standard price

$13.00

per grams

The following data pertain to operations concerning the product for the last month:

Actual materials purchased

3,100

grams

Actual cost of materials purchased

$ 36,115

Actual materials used in production

2,400

grams

Actual output

500

units

The direct materials purchases variance is computed when the materials are purchased.

Required:

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

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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