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Determine Gumcharas materials price variance

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Reference no: EM132534089

Question - Gumchara Corporation reported the following information with respect to the materials required to manufacture amalgam florostats during the current month.

Standard price per gram of materials $4

Standard quantity of materials per amalgam florostat 5 grams

Actual materials purchased and used in production 6,000 grams

Actual amalgam florostats produced during the month 1,000 units

Actual cost of materials purchased $18,000

Normal monthly output 900 units

Required -

a. Determine Gumchara's materials price variance.

b. Determine Gumchara's materials quantity variance.

c. Will Gumchara's overhead volume variance be favorable or unfavorable?

Reference no: EM132534089

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