Handley uses a standard costing system. For production of a fuel cell, standards call for 4...
Handley uses a standard costing system. For production of a fuel
cell, standards call for 4 model RN-3 valves per cell costing
$2,450 each. During 2018, the company purchased 250 valves for
$570,000. The company used 240 valves in the production of 58 fuel
cells (8 valves were ruined through installation error).
Calculate material price and quantity variances for the model RN-3
valves. (Enter all variances as a positive
number.)
| Material Price Variance | $
|
|
|||
| Material Quantity Variance | $
|
|
Homework Answers
Materials Price Variance = (SP-AP) *AQ
= (2450 - 570,000/250) * 250
= 42,500 Favourable
.
Materials Quantity Variance = (SQ-AQ) *SP
= (58*4 - 240)*2450
= 19,600 Unfavorable
Comment if you face any issues
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