In November 2008, Day Time Publisher Company's costs and quantities of paper consumed in manufacturing its 2009
Executive Planner and calendar were as follows:
Actual unit purchase price $0.065 per page
Standard unit price $0.070 per page
Standard quantity for good production 195,800 pages
Actual quantity purchased during November 230,000 pages
Actual quantity used in November 200,000 pages
a. Calculate the total cost of purchases for November.
b. Compute the material price variance (based on quantity purchased).
c. Calculate the material quantity variance.