The following materials standards have been established for, Ask an Expert

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

Standard quantity per unit of output	8.5	Pounds
Standard price	$15.50	per pound

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

Actual materials purchased	6,920	Pounds
Actual cost of materials purchased	$94,100
Actual materials used in production	6,220	Pounds
Actual output	1,400	Units

What is the materials quantity variance for the month?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9949000

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