Stanford coop uses a standard cost system to account for

Reference no: EM13578962

Stanford Coop uses a standard cost system to account for the costs of its one product. Materials standards are 2.8 pounds of material at $13 per pound and 1 hours of labor at a standard wage rate of $11. During July Stanford Coop produced 3,280 units. Materials purchased and used totaled 10,080 pounds at a total cost of $132,390. Payroll totaled $147,680 for 13,180 hours worked

a.Direct Materials Price Variance?(Unfavorable, Favorable, None)

b.Direct Materials Quanity Variance?(Unfavorable, Favorable, None)

Reference no: EM13578962

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