(Answered) Question - gumchara corporation reported the following

Accounting

Question - Gumchara Corporation reported the following information with respect to the materials required to manufacture amalgam florostats during the current month:

Standard price per gram of material $4

Standard quantity of materials per amalgam florostat 5 grams

Actual materials purchased and used in production 6,000 grams

Actual amalgam florostats produced during the month 1,000 units

Actual cost of materials purchased $18,000

Normal monthly output 900 units

a. Determine Gumchara's materials price variance?

b. Determine Gumchara's materials quantity variance?

c. Will Gumchara's overhead volume variance be favorable or unfavorable? Why?

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