The standard cost of Product B manufactured by Mateo Company includes three units of direct materials at $5.00 per unit. During June, 28,000 units of direct materials are purchased at a cost of $4.70 per unit, and 28,000 units of direct materials are used to produce 9,000 units of Product B.
Compute the total materials variance and the price and quantity variances.
- Total materials variance $
- Materials price variance $
- Materials quantity variance $
Repeat the question above, assuming the purchase price is $5.20 and the quantity purchased and used is 26,200 units.
- Total materials variance $
- Materials price variance $
- Materials quantity variance $