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Question - Majer Corporation makes a product with the following standard costs:
Standard Quantity or Hours
Standard Price or Rate
Standard Cost Per Unit
Direct materials
6.2 ounces
$4.00 per ounce
$24.80
Direct labor
0.7 hours
$17.00 per hour
$11.90
Variable overhead
$4.00 per hour
$2.80
The company reported the following results concerning this product in February.
Originally budgeted output
4,900 units
Actual output
5,000 units
Raw materials used in production
30,200 ounces
Actual direct labor-hours
1,840 hours
Purchases of raw materials
32,600 ounces
Actual price of raw materials
$67.10 per ounce
Actual direct labor rate
$57.60 per hour
Actual variable overhead rate
$5.80 per hour
The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.
Required - Determine the materials quantity variance for February?
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