What is the amount of the direct material price variance for baking soda?

Is the direct material price variance for baking soda favourable or adverse?

What is the amount of the direct material price variance for citric acid?

What is the amount of the direct material price variance for essential oils?

Is the direct material price variance for essential oils favourable or adverse?

What is the amount of the direct material usage variance for baking soda?

What is the amount of the direct material usage variance for citric acid?

GreenClean Ltd uses three different materials, baking soda, citric acid, and essential oils, to make its cleaning product. To produce one unit of product, the company production standards require 5 kilograms (kgs) of materials composed of 25% of baking soda, 45% citric acid and 30% essential oils. The budgeted cost per kg of baking soda is $20, citric acid is $40, and essential oils are $15. Workers are expected to spend 25 hours producing one unit of product, and the average hourly rate of pay is $20 per hour. Both variable and fixed overhead costs are allocated to the products based on labour hours. The following budget information is available for July: Actual results for July are a total of 62,000 kilograms of materials were used to produce 11,500 units of product