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Solve material price and quantity variances for model

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Reference no: EM132711682

WRX uses a standard costing system. For production of a fuel cell, standards call for 4 model RN-3 valves per cell costing $2,300 each. During 2018, the company purchased 250 valves for $587,500. The company used 248 valves in the production of 60 fuel cells (8 valves were ruined through installation error).

Problem 1: Calculate material price and quantity variances for the model RN-3 valves. (Enter all variances as a positive number.)

Reference no: EM132711682

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