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What is the materials quantity variance

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Q1. Assume that the standard cost to make one unit of product includes 15 units of raw materials at a price of $3 per unit. In July, 34,000 units of raw materials were purchased for $100,800, and 30,600 units of raw materials were used to produce 2,000 units of ?nished product. What is the materials quantity variance?

a. $2,400 (U)

b. $1,800 (U)

c. $1,200 (F)

d. $1,200 (U)

Q2. Assume that the standard cost to make one ?nished unit includes 2 hour of direct labor at $8 per hour. During April, 22,000 direct labor-hours were worked, 10,500 units of product were manufactured, and total direct labor cost was $160,000. What is the labor rate variance for April?

a. $2,000 (U)

b. $2,000 (F)

c. $16,000 (U)

d. $16,000 (F)

Reference no: EM132739333

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