Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows:
$\begin{array}{ll}
1,5501 \mathrm{bs} .@ \$ 9.10 & \text { Actual costs } \
1,6001 \mathrm{bs} . @\$ 9.00 & \text { Standard costs }
\end{array}$
Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance.

Question

Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows:
 $\begin{array}{ll}
1,5501 \mathrm{bs} .@ \$ 9.10 & \text { Actual costs } \
1,6001 \mathrm{bs} . @\$ 9.00 & \text { Standard costs }
\end{array}$
 Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance.

Quizplus · Accepted Answer

The Answer of Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows:
 $\begin{array}{ll}
1,5501 \mathrm{bs} .@ \$ 9.10 & \text { Actual costs } \
1,6001 \mathrm{bs} . @\$ 9.00 & \text { Standard costs }
\end{array}$
 Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance.