Question - The following data relate to the direct materials cost for the production of 2,000 automobile tires:
Actual: 54,600 LBs. at $1.80 $98,280
Standard: 53,400 LBs. at $1.85 $98,790
Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Use the minus sign to enter favorable variances as negative numbers.
Price variance:
Quantity variance:
Total direct materials cost variance: