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Compute price variance favorable or unfavorable

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JackJoe, Inc. standard costing provided below. During 20x1, JackJoe Inc. used 410,000 of raw materials to produce 200,000 units of finished goods.

Question 1: Devise a two way variance analysis and compute Price variance favorable or unfavorable and Quantity variance favorable or unfavorable and Actual price per unit

Assumptions           Year X1

Units sold                                               200,000

Raw material units per unit sold (standard)            2

Budgeted raw material cost per unit                $1.00

Total Raw material cost variance - Unfavorable  $10,000

Reference no: EM132533740

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