Drop-down menu: Favorable, unfavorable and
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Homework Answers
Solution
| Total Material Variance | $ 13,840.00 | Unfavourable-U |
| Material Price Variance | $ 10,160.00 | Favourable-F |
| Material quantity variance | $ 24,000.00 | Unfavourable-U |
Working
| Material Price Variance | ||||||
| ( | Standard Rate | - | Actual Rate | ) | x | Actual Quantity |
| ( | $ 6.00 | - | $ 5.80 | ) | x | 50800 |
| 10160 | ||||||
| Variance | $ 10,160.00 | Favourable-F | ||||
| Material Quantity Variance | ||||||
| ( | Standard Quantity | - | Actual Quantity | ) | x | Standard Rate |
| ( | 46800 | - | 50800 | ) | x | $ 6.00 |
| -24000 | ||||||
| Variance | $ 24,000.00 | Unfavourable-U | ||||
| Material Spending Variance | ||||||
| ( | Standard Cost | - | Actual Cost | ) | ||
| ( | $ 280,800.00 | - | $ 294,640.00 | ) | ||
| -13840 | ||||||
| Variance | $ 13,840.00 | Unfavourable-U | ||||
.
| Standard DATA for | 23400 | Units | |
| Quantity (SQ) | Rate (SR) | Standard Cost | |
| [A] | [B] | [A x B] | |
| Direct Material | ( 2 units x 23400 Units)=46800 units | $ 6.00 | $ 280,800.00 |
.
| Actual DATA for | 23400 | Units | |
| Quantity (AQ) | Rate (AR) | Actual Cost | |
| Direct Material | 50800 | $ 5.80 | $ 294,640.00 |
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