Compute what is the materials price variance for the month

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Reference no: EM132771522

The following materials standards have been established for a particular product:

Standard quantity per unit of output 9.4 kilograms

Standard price $16.90 per kilograms

The following data pertain to operations concerning the product for the last month:

Actual materials purchased 7,300 kilograms

Actual cost of materials purchased $116,435

Actual materials used in production 7,100 kilograms

Actual output 740 units

Problem a) What is the materials price variance for the month? (AQ ´ AP) - (AQ ´ SP)

Problem b) What is the materials quantity variance for the month? SP (AQ - SQ)

Reference no: EM132771522

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