The following standards have been established for a raw material used to make product JN36:$\begin{array}{|l|r|l|}
\hline \begin{array}{l}
\text { Standard quantity of the material per } \
\text { unit of output }
\end{array} & 6.3 & \text { pounds } \
\hline \text { Standard pric e of the material } & \$ 15.50 & \begin{array}{l}
\text { per } \
\text { pound }
\end{array} \
\hline
\end{array}$
The following data pertain to a recent month's operations:

Required:
a.What is the materials price variance for the month?
b.What is the materials quantity variance for the month?

Question

The following standards have been established for a raw material used to make product JN36:$\begin{array}{|l|r|l|}
\hline \begin{array}{l}
\text { Standard quantity of the material per } \
\text { unit of output }
\end{array} & 6.3 & \text { pounds } \
\hline \text { Standard pric e of the material } & \$ 15.50 & \begin{array}{l}
\text { per } \
\text { pound }
\end{array} \
\hline
\end{array}$
The following data pertain to a recent month's operations:

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 standards have been established for a raw material used to make product JN36:$\begin{array}{|l|r|l|}
\hline \begin{array}{l}
\text { Standard quantity of the material per } \
\text { unit of output }
\end{array} & 6.3 & \text { pounds } \
\hline \text { Standard pric e of the material } & \$ 15.50 & \begin{array}{l}
\text { per } \
\text { pound }
\end{array} \
\hline
\end{array}$
The following data pertain to a recent month's operations:

Required:
a.What is the materials price variance for the month?
b.What is the materials quantity variance for the month?

The Following Standards Have Been Established for a Raw Material