Solution:
Direct Material Cost Variance | ||||||||||||
Actual Cost | Standard cost for actual quantity | Standard Cost | ||||||||||
AQ * | AP = | AQ * | SP = | SQ * | SP = | |||||||
65100 | $8.16 | $531,216.00 | 65100 | $8.50 | $553,350.00 | 63800 | $8.50 | $542,300.00 | ||||
-$22,134.00 | F | $11,050.00 | U | |||||||||
Direct Material Price Variance | Direct Material Qty variance | |||||||||||
Direct material price variance | -$22,134.00 | F | ||||||||||
Direct material quantity variance | $11,050.00 | U | ||||||||||
Direct material cost variance | -$11,084.00 | F |
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