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Tercer reports the following on one of its products

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Tercer reports the following on one of its products. Compute the direct materials price and quantity variances. 

Direct materials standard (4 lbs. @ $ 2/ lb.) . . . . . . . . $ 8 per finished unit 

Actual direct materials used . . . . . . . . . . . . . . . . . . . . 300,000 lbs. 

Actual finished units produced . . . . . . . . . . . . . . . . . . 60,000 units 

Actual cost of direct materials used . . . . . . . . . . . . . . $ 535,000

Reference no: EM13908903

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