The following materials standards have been established for a particular product:
|
|
|
| Standard quantity per unit of output |
3.8 |
pounds |
| Standard price |
$13.00 |
per pound |
|
|
The following data pertain to operations concerning the product for the last month:
|
|
|
|
| Actual materials purchased |
2,700 |
pounds |
| Actual cost of materials purchased |
$ 34,155 |
|
| Actual materials used in production |
2,000 |
pounds |
| Actual output |
500 |
units |
|
| Required: |
| a. |
What is the materials price variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.)
|
| Materials price variance |
$ |
(Click to select)FUNone |
| b. |
What is the materials quantity variance for the month? (Input the amount a as positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.)
|
| Materials quantity variance |
$ |
(Click to select)FUNone |