The following materials standards have been established for a particular product:
The following data pertain to operations concerning the product for the last month:
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?

Question

The following materials standards have been established for a particular product:
  The following data pertain to operations concerning the product for the last month:
  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?

Quizplus · Accepted Answer

The Answer of The following materials standards have been established for a particular product:
  The following data pertain to operations concerning the product for the last month:
  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?

The Following Materials Standards Have Been Established for a Particular