Calculate total materials variance and price and quantity, Ask an Expert

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Q1) Standard cost of Product B produced by mateo Company comprises 3 units of direct materials at $5.30 per unit. During June, 28,000 units of direct materials are bought at a cost of $4.98 per unit, and 28,000 units of direct materials are used to manufacture 9,000 units of Product B.

find out total materials variance and price and quantity variances.

Total materials variance	$_____
Materials price variance	$_____
Materials quantity variance	$_____

Repeat (a), assuming purchase price is $5.51, and quantity bought and used is $26,000 units.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M921480

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