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Find what is the materials quantity variance for the month

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Reference no: EM132520572

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

Standard quantity per unit of output 9.2         grams

Standard price                             $14.70per gram

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

Actual materials purchased 5,500grams

Actual cost of materials purchased $76,450

Actual materials used in production 5,100grams

Actual out put 540units

Required:

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

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

Reference no: EM132520572

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