Oddo Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Cost...

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Oddo Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Cost Per Unit Standar

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Answer 1

Answer #1

Materials Quantity Variance

= (SQ-AQ) * SP

= (4200*3 - 12820) * 7

= 1540 Unfavorable

.

Materials Price Variance

= (SP-AP) *AQ

= (7 - 6.80) * 14,500

= 2900 Favourable

.

Materials spending variance = 1540U + 2900F

= 1360 Favourable

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Answer 2

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