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1.The standard costs and actual costs for direct materials for the manufacture of 1,000...

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Accounting

1.The standard costs and actual costs for direct materials for the manufacture of 1,000 actual units of prodcut are as follows:

Standard Costs

Direct Materials (per completed Unit) 1.05 kilograms @$8.00

Direct Materials

Direct Materials 2,000 kilograms@$7

The amount of direct materials price variance is:

2. The following data relate to direct materials costs for May:

Actual costs 4,000 pounds at $5.50

Standard Costs 4,200 pounds at $6.00

a. What is the direct materials price variance?

b. What is the direct materials quantity variance?

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