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Compute the materials quantity variance for April

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Reference no: EM132802382

Question - A company has provided the following data concerning one of the products in its standard cost system.

Inputs Standard Quantity per unit of Output Standard Price

Direct materials 8.0 ounces $8.10/ounce

The company has reported the following actual results for the product for April:

Actual output 6,500 units

Raw materials purchased 62,350 ounces

Actual cost of raw materials purchased $386,210

Raw materials used in production 52,020 ounces

Required -

A) Compute the materials price variance for April.

B) Compute the materials quantity variance for April.

Reference no: EM132802382

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