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Parker Corporation manufactures and sells a standard tool used by the automotive industry to build...

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Accounting

Parker Corporation manufactures and sells a standard tool used by the automotive industry to build automobiles.
To manufacture one tool the following parts are needed.
Description Quantity Cost per unit Total Cost
Square metal piece (6 X 6)4 $.0.50 $2.00
Round metal piece 3 $0.40 $1.20
Metal Stand 1 $0.25 $0.25
During the month of May 2024. Parker Corporation produced and sold 25,870 tools at a selling price of $14.00 per tool.
Raw Materials requisition records indicated that the following raw materials were requisitioned by production employees to put into the production process.
Description Quantity
Square metal piece (6 X 6)103,977
Round metal piece 77,640
Metal Stand 25,912
Purchasing records indicate the Parker purchased the following during the month of May.
Description Quantity Total Cost
Square metal piece (6 X 6)109,000 $58,980
Round metal piece 95.000 $38,450
Metal Stand 46,000 $11,940
Based on the data shown above, what is the total amount of direct materials variance:

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