Landram Corporation makes a product with the following standard costs: Inputs St

Question

Landram Corporation makes a product with the following standard costs: Inputs Standard Quantity or Hours Standard Price or Rate Direct materials 2.0 kilos $7.00 per kilo Direct labor 0.5 hours $13.00 per hour Variable overhead 0.5 hours $7.00 per hour In March the company produced 4,500 units using 10,110 kilos of the direct material and 2,090 direct labor-hours. During the month, the company purchased 10,680 kilos of the direct material at a cost of $76,560. The actual direct labor cost was $38,257 and the actual variable overhead cost was $11,958. The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased. The materials quantity variance for March is: $7,770 F $7,957 U $7,770 U $7,957 F

Explanation / Answer

$7,770 F

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