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Compute the total materials variance

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Reference no: EM133101699

Question - The standard cost of Product B manufactured by Apparel Company includes three units of direct materials at $5.00 per unit. During June, 29,000 units of direct materials are purchased at a cost of $4.70 per unit, and 29,000 units of direct materials are used to produce 9,400 units of Product B.

Required -

a. Compute the total materials variance and the price and quantity variances.

b. Repeat (a), assuming the purchase price is $5.15 and the quantity purchased and used is 28,000 units.

Reference no: EM133101699

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