The following materials standards have been established for a particular product:
|
Standard quantity per unit of output |
0.2 grams |
|
Standard price |
$18.90 per gram |
The following data pertain to operations concerning the product for the last month:
|
Actual materials purchased |
4,800 grams |
|
Actual cost of materials purchased |
$86,880 |
|
Actual materials used in production |
4,200 grams |
|
Actual output |
21,080 units |
Required:
a. What is the materials price variance for the month?
b. What is the materials quantity variance for the month?