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Compute the total, price, and quantity materials variances

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Question - Simba Company's standard materials cost per unit of output is $9.68 (2.20 pounds x $4.40). During July, the company purchases and uses 2,970 pounds of materials costing $15,741 in making 1,500 units of finished product. Total Material Variance is unfavorable, material price variance is unfavorable, and material quantity variance is favorable.

Compute the total, price, and quantity materials variances.

If you could provide an explanation for how to figure out each step as well, that would be very appreciated.

Reference no: EM132527544

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