Granger Tees is a manufacturer of T-shirts. The standard amount of 100% cotton jersey fabric used to make each T-shirt i...
Granger Tees is a manufacturer of T-shirts. The standard amount
of 100% cotton jersey fabric used to make each T-shirt is 3.00
yards. The standard price per yard of the fabric is $2.31. During
last month, Granger purchased 6,300 yards of the jersey fabric for
$13,860. The production department used 4,900 yards to produce
1,800 T-shirts during the month.
Compute the material price and quantity variances.
(Round answers to 0 decimal places, e.g. 125. Enter all
variances as a positive number.)
| Material Price Variance | $
|
|
|||
| Material Quantity Variance | $
|
|
Homework Answers
Materials Price Variance = (SP-AP) *AQ
= (2.31 - 13,860/6300) * 6300
= 693 Favourable
.
Materials Quantity Variance = (SQ-AQ) * SP
= (1800*3 - 4900)*2.31
= 1155 Favourable
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