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Use the following information to answer questions 6 and 7: Hanson Inc. has the...

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Accounting

Use the following information to answer questions 6 and 7:

Hanson Inc. has the following direct material standard to manufacture one Zippy:

  • 1.5 pounds per Zippy at $4.00 per pound
  • Last week, 1,700 pounds of material were purchased and used to make 1,000 Zippies.
  • The material cost a total of $6,630.

6. Hansons material price variance (MPV) for the week was:

A. $170 unfavorable. B. $170 favorable. C. $800 unfavorable. D. $800 favorable.

7. Hansons material quantity variance (MQV) for the week was:

A. $170 unfavorable. B. $170 favorable. C. $800 unfavorable. D. $800 favorable.

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