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What were the materials variances for the month

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Reference no: EM132661905

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

Standard quantity per unit of output 8.5 grams

Standard price $19.15 per gram

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

Actual materials purchased- 7,500 grams

Actual cost of materials purchased- $141,375

Actual materials used in production- 7,100 grams

Actual output- 700 units

Problem 1: What were the materials variances for the month? Clearly indicate whether they were Favourable(F), or Unfavourable (U)

Reference no: EM132661905

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