The Good Times Company's budget for materials for the year is as follows: The actual number of games produced was 12,000 games.
Standard costs for each game were 3.5 pounds of material at a cost of $22.50 per pound.
The actual costs for each game were 3 pounds of material at a cost of $25.00 per pound.
compute the total material variance, the material price variance, and the material quantity variance