The following materials standards have been established for a particular product: Standard quantity per unit...
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The following materials standards have been established for a particular product: Standard quantity per unit of output standard price pounds $ per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output pounds $ pounds units The direct materials purchases variance is computed when the materials are purchased. Required: a What is the materials price variance for the month? b What is the materials quantity variance for the month? Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance Input all amounts as positive values. 
The following materials standards have been established for a particular product:
Standard quantity per unit of output
standard price
pounds
$ per pound
The following data pertain to operations concerning the product for the last month:
Actual materials purchased
Actual cost of materials purchased
Actual materials used in production
Actual output
pounds
$
pounds
units
The direct materials purchases variance is computed when the materials are purchased.
Required:
a What is the materials price variance for the month?
b What is the materials quantity variance for the month?
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero
variance Input all amounts as positive values.
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