The following standards have been established for a raw material used to make product I92: The following data pertain to a recent month's operations: 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 standards have been established for a raw material used to make product I92:  The following data pertain to a recent month's operations:  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 standards have been established for a raw material used to make product I92:  The following data pertain to a recent month's operations:  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 Standards Have Been Established for a Raw Material