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What total direct materials cost variance for the month was

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A company uses the following standard costs to produce a single unit of output.

Direct materials8 pounds at $0.90 per pound=$7.20

Direct labor0.6 hour at $9.00 per hour=$5.40

Manufacturing overhead0.6 hour at $3.40 per hour=$2.04

Question 1: During the latest month, the company purchased and used 78,000 pounds of direct materials at a price of $1.20 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $50,547 based on 5,810 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $17,400 and fixed manufacturing overhead incurred was $14,000. Based on this information, the total direct materials cost variance for the month was:

Reference no: EM132610473

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