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Bravo baking uses standard costing to analyze its

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Bravo Baking uses standard costing to analyze its performance. The data below is provided for your use in determining Bravo's variances. Standard Cost per unit Cost /Unit Amount/Unit Standard Cost.

  • Material Cost (Ingredients) (.5 lbs) 2.29 .5 lbs $4.58
  • Direct Labor( .25 hrs * $9/hr) 2.25 .25 hrs $9.00
  • Overhead 0.57

During the month, Bravo sold 9,000 loaves of bread and used 4,650 pounds of ingredients. Also during the month, Bravo purchased 5,000 pounds of ingredients at a cost of $22,500. Employees worked a total of 2200 hours and actual labor costs were $19,998

Required:Compute the material price and quantity variance.

Reference no: EM13593059

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