Simba Company's standard materials cost per unit of output is $9.24 2.20 pounds x $4,20). During...

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Simba Companys standard materials cost per unit of output is $9.24 2.20 pounds x $4,20). During July, the company purchases

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Answer 1

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Total material Variance =$ 12593 – (1200 units x $ 9.24)
= 12593 – 11088
= $ 1505 Unfavourable
Material Price Variance = $ 2,614 Unfavourable

Material Price Variance
(	Standard Rate	-	Actual Rate	)	x	Actual Quantity
(	$ 4.20	-	$ 5.30	)	x	2376
	-2613.8
	Variance		$ 2,613.80			Unfavourable-U

Material Quantity Variance = $ 1109 Favourable

Material Quantity Variance
(	Standard Quantity = 1200 units x 2.20 pounds	-	Actual Quantity	)	x	Standard Rate
(	2640	-	2376	)	x	$ 4.20
	1108.8
	Variance		$ 1,108.80			Favourable-F

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