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The following materials standards have been established for a particular product: Standard quantity per unit of output 6.2 pounds Standard price $ 15.00 per pound
The following materials standards have been established for a particular product:
Standard quantity per unit of output | 6.2 | pounds | |
Standard price | $ | 15.00 | per pound |
The following data pertain to operations concerning the product for the last month:
Actual materials purchased | 7,500 | pounds | |
Actual cost of materials purchased | $ | 64,680 | |
Actual materials used in production | 7,000 | pounds | |
Actual output | 880 | units | |
The direct materials purchases variance is computed when the materials are purchased.
What is the materials quantity variance for the month?
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