(Answered) Question - coffee pot inc is local chain of coffee shops

Accounting

Question - Coffee Pot, Inc. is local chain of coffee shops. The standard amount of ground coffee per cup is 0.75 ounces. During October, the company sold 450,000 cups of coffee and used 19,000 pounds of coffee. Also during October, the company purchased 20,000 pounds of coffee at a price of 285,000. The company views variances greater than 0.9% of its flexible budget to be considered significant. The standard price per pound is $16.

Compute the material variances. Are they favorable or unfavorable?

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