Dropdown options for all are
favorable, unfavorable or neither
Homework Answers
(a).
Total Material Variance
= Standard Cost of Production - Actual Cost of Production
= 9500*3*6*55 - 29000*6.16
= 186675 - 178640
= $8035 Favorable
Material Price Variance
= Standard price of Actual quantity used - Actual price of Actual quantity used
= 6.55*29000 - 6.16*29000
= 189950 - 178640
= $ 11310 Favorable
Material Quantity Variance
= Standard quantity of Material for Actual Production at standard price - Actual quantiy of Material for Actual at standard price Production
= = 9500*3*6*55 - 29000*6.55
= 186675- 189950
=$3275 Unfavorable
(b).
Total Material Variance
= Standard Cost of Production - Actual Cost of Production
= 9500*3*6*55 - 28000*6.75
=186675 - 189,000
=$2325 unFavorable
Material Price Variance
= Standard price of Actual quantity used - Actual price of Actual quantity used
=28000*6.55 - 28000*6.75
=$5600 Unfavorable
Material Quantity Variance
= Standard quantity of Material for Actual Production at standard price - Actual quantity of Material for Actual at standard price Production
=9500*3*6*55 – 28000*6.55
=186675- 183400
=$3275 Favorable
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