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Identify whether each variance is favorable or unfavorable

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Question - The following direct materials data pertain to the operations of Novak Co. for the month of December.

Standard materials price $5.00 per pound

Actual quantity of materials purchased and used 16,870 pounds

The standard cost card shows that a finished product contains 4 pounds of materials. The 16,870 pounds were purchased in December at a discount of 4% from the standard price. In December. 4,090 units of finished product were manufactured. Calculate the materials variances. Identify whether each variance is favorable or unfavorable.

Reference no: EM133130994

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