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What the direct materials usage variance

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Question - Additives Products Ltd. bottles and sells hot pepper sauce. In 2020, the company had expected to sell 60,000 bottles but actually bottled and sold 70,000 bottles. The standard direct materials cost for each bottle is P.28 comprised of .80 ounces at a cost of P.35 per ounce. During 2020, 68,000 ounces of materials were purchased out of which, 55,000 ounces were used at a cost of P.32 per ounce.

Required -

1. What the direct materials price variance for 2020?

a. P2,040 F

b. P2,040 UF

c. P1,650 F

d. P1,650 UF

2. What the direct materials usage variance for 2020?

a. P350 F

b. P350 UF

c. P4,200 F

d. P4,200 UF

Reference no: EM133076558

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