A company has established 6 pounds of Material J at $3 per pound as the standard...
A company has established 6 pounds of Material J at $3 per pound as the standard for the material in its Product Z. The company has just produced 1,000 units of this product, using 6,200 pounds of Material J that cost $17,680. The direct materials quantity variance is:
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$600 unfavorable.
-
$920 unfavorable.
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$920 favorable.
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$600 favorable.
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$320 favorable.
Homework Answers
Answer- The direct materials quantity variance is= $600 Unfavorable.
Explanation-
Material Quantity variance = (Standard Quantity- Actual Quantity)*Standard price
=(6000 pounds – 6200 pounds)*$3 per pound
= $600 Unfavorable
Where:-
Standard Quantity = No. of pounds per unit*Actual output
= 6 pounds per unit *1000 units
= 6000 pounds
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