What is the materials price variance for the month? (Input the amount as a posit
ID: 2430675 • Letter: W
Question
What is the materials price variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.)
Materials price variance=
F or U=
What is the materials quantity variance for the month? (Input the amount a as positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.)
Materials quantity variance=
F or U=
The following materials standards have been established for a particular product:
Explanation / Answer
Qty Rate Amt Standard: 2.70 14.00 37.80 Actual Production 370 Standard Cost for Actual Production: Qty Rate Amt Standard: 999 14.00 13986 Qty Rate Amt Actual Cost of Purchase 17475 Actual Costs: 1400 11.65 16310 Actual Purchases Qty 1500 Rate PU 11.65 Material Price Variance: (Standard Rate-Actual Rate)*Actual Purchases (14-11.65)*1500 3525 Favourable Material Quantity Variance: (Standard Qty-Actual Qty Consumed)*Standard Price (999-1400)*14 -5614 Unfavourable
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