The XYZ Company produces toys for national distribution. Standards for a particular toy are: Materials:...
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Accounting
The XYZ Company produces toys for national distribution. Standards for a particular toy are: Materials: 12 grams per unit at 56 cents per gram. Labour: 2 hours per unit at $2.75 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: Materials: 14,000 grams were purchased and used at a total cost of $7,140. Labour: 2,500 hours worked at a total cost of $8,000.
What was the materials quantity variance?
a.
$1,820 unfavourable.
b.
$1,820 favourable.
c.
$1,120 unfavourable.
d.
$1,120 favourable.
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