Reference no: EM132707204

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

Standard quantity per unit of output 8.3 grams

Standard price $ 19.15 per grams

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

Actual materials purchased 7,500 grams

Actual cost of materials purchased $141, 375

Actual materials used in production 7,100 grams.

Actual output 700 units

Problem a. What were the materials variances for the month? Favorable and Unfavorable.

Problem b. Prepare the journal entries necessary to record the purchase of the materials.

Problem c. Prepare the journal entries necessary to record the use of the materials.