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Demonstrate what is materials quantity variance for month

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Reference no: EM132546155

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

Question a) What is the materials price variance for the month?

Question b) What is the materials quantity variance for the month?

Reference no: EM132546155

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