Solution
Total Material Variance | $ 3,390.00 | Unfavourable-U |
Material Price Variance | $ 1,800.00 | Unfavourable-U |
Material quantity variance | $ 1,410.00 | Unfavourable-U |
Working
Actual DATA for | 1200 | Units | |
Quantity (AQ) | Rate (AR) | Actual Cost | |
Direct Material | 3300 | $ 5.30 | $ 17,490.00 |
.
Standard DATA for | 1200 | Units | |
Quantity (SQ) | Rate (SR) | Standard Cost | |
[A] | [B] | [A x B] | |
Direct Material | ( 2.5 pound x 1200 Units)=3000 pound | $ 4.70 | $ 14,100.00 |
.
Material Price Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Quantity |
( | $ 4.70 | - | $ 5.30 | ) | x | 3000 |
-1800 | ||||||
Variance | $ 1,800.00 | Unfavourable-U | ||||
Material Quantity Variance | ||||||
( | Standard Quantity | - | Actual Quantity | ) | x | Standard Rate |
( | 3000 | - | 3300 | ) | x | $ 4.70 |
-1410 | ||||||
Variance | $ 1,410.00 | Unfavourable-U | ||||
Total Material Variance | ||||||
( | Standard Cost | - | Actual Cost | ) | ||
( | $ 14,100.00 | - | $ 17,490.00 | ) | ||
-3390 | ||||||
Variance | $ 3,390.00 | Unfavourable-U |
Send to Gradebook Question 3 View Policies Current Attempt in Progress Simba Company's standard materials cost...
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