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What is the materials quantity variance for the month

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Reference no: EM132573439

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

Standard quantity per unit of output3.6metresStandard price $10.20 per metre

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

Actual materials purchased 7,100 metres

Actual cost of materials purchased $68,515 per metre

Actual materials used in production 6,600 metres

Actual output 1,780 units

Required -

a. What is the materials price variance for the month?

b. What is the materials quantity variance for the month?

Reference no: EM132573439

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