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What was the materials price variance for the month

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Reference no: EM133090584

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

Standard quantity per unit of output 9.2 grams

Standard price $14.70 per gram

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

Actual materials purchased 5,500 grams

Actual cost of materials purchased $76,450

Actual materials used in production 5,100 grams

Actual output 540 units

Required -

a) What was the materials price variance for the month?

b) What was the materials quantity variance for the month?

Reference no: EM133090584

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