The standard cost of product B manufactured by TLC company includes three units of direct materials at $6 per unit. During June 28000 units of direct materials are purchased at a cost of $5.64 per unit, and 28000 units of direct materials are used to produce 9000 units of product B.
a- Using the info above. Compute the total materials variance and the price and quantity variances.
b- Repeat the question above, assuming the purchase price at $6.24 and the quantity purchased and used is 26,200 units.