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What is the materials spending variance

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Question - Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,700 helmets, using 2,294 kilograms of plastic. The plastic cost the company $15,140.

According to the standard cost card, each helmet should require 0.57 kilograms of plastic, at a cost of $7.00 per kilogram.

Required -

1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,700 helmets?

2. What is the standard materials cost allowed (SQ × SP) to make 3,700 helmets?

3. What is the materials spending variance?

4. What is the materials price variance and the materials quantity variance?

Reference no: EM132522930

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