The following standards have been established for a raw material used to make pr
ID: 2513573 • Letter: T
Question
The following standards have been established for a raw material used to make product O84:
Standard quantity of the material per unit of output 7.6 meters D McDonald's Wifi ?? McGraw-Hill Connect x / Connect x CChegg Study | GuidedC The Follewing Standar xC The Haney Corpcratio Je CSecure https://newconnect.mheducation.com/flow/connect.html Chapter 10 Quiz 6 Help Save & Exit Submit Saved Standard quantity of the material per unit of output Standard price of the material 7.6 meters $ 18.80 per meter The following data pertain to a recent month's operations Actual material purchased Actual cost of material purchased Actual material used in production Actual output 3,900 meters $ 76,830 3,600 meters 550 units of product 084 The direct materials purchases variance is computed when the materials are purchased Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? Mc Graw ?Prev 10 of 10 Next > ducation 9:12 PM Type here to search 7/2018Explanation / Answer
Standard Actual Particulars Metre Rate amount Metre Rate amount Materials 4,180.00 18.80 78,584.00 3,900.00 19.70 76,830.00 Actual output 550.00 Materials reqd (550 * 7.60) 4,180.00 DMPV = (SP-AP)*AQ purchased DMPV = (18.80 - 19.70)3900 DMPV = 3,510 U DMQV= (SQ-AQ)SP DMQV= (4180 - 3600)18.80 DMQV= 10,904 F