Q1) Standard cost of Product B produced by mateo Company comprises 3 units of direct materials at $5.30 per unit. During June, 28,000 units of direct materials are bought at a cost of $4.98 per unit, and 28,000 units of direct materials are used to manufacture 9,000 units of Product B.
Calculate total materials variance and price and quantity variances.
| Total materials variance |
$_____ |
|
| Materials price variance |
$_____ |
|
| Materials quantity variance |
$_____ |
|
Repeat (a), assuming purchase price is $5.51, and quantity bought and used is $26,000 units.