Determine the material price variance based on the quantity

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Reference no: EM133441134

Question: Variance analysis, material and labor The following information is available for Company:

Actual
Materials	12,000 pounds purchased at $2.50 per pound; used 10,500 pounds
Direct Labor	1,800 hours at $12 per hour
Units Produced	500

Standard
Materials	20 pounds per unit at a price of $2.20 per pound
Direct Labor	4 hours per unit at a wage rate of $10 per hour

(a) Determine the material price variance based on the quantity of materials purchased.

(b) Determine the material quantity variance.

(d) Determine the direct labor efficiency variance.

Reference no: EM133441134

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