Homework Answers
1) Actual price of fabric per diameter = 232,320 / 8,800 = £ 26.4
2) Standard Quantity = 8,000 * 1.2 = 9,600 Diameter
3) Material Price Variance = Actual Quantity * (Standard Price - Actual Price) = 8,800 * (24 - 26.4) = £ (21,120)
4) MPV is unfavorable.
5) Material Quantity Variance = (Standard Quantity - Actual Quantity) * Standard Price = (9,600 - 8,800) * £24 = £ 19,200
6) Material Quantity Variance is favorable.
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question 3&4
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Please help with explaination
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