PLEASE ANSWER WILL THUMB UP!!! Newport Sports produces Tank tops....
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Newport Sports produces Tank tops. The company developed the following standard costs for a Tank top: Metres Cost per Metre $1.40 Total Cost $1.75 Direct materials 1.25 The actual results for the year are: Units produced Direct materials purchased and used (metres) Direct materials cost per metre Required: 40,000 60,000 $1.20 Calculate the direct material price and usage (also called efficiency) variances and use your solution to answer the following questions. NOTE: Please enter all variances as positive numbers. The amount of the direct material price variance is $ A/ Indicate if the direct material price variance is favourable (enter the letter F) or unfavourable (enter the letters UF). A The amount of the direct material usage variance (also called efficiency variance) is $ A Indicate if the direct material usage variance is favourable (enter the letter F) or unfavourable (enter the letters UF). A
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