Thurston Company's budget allows for one pound of material to be used for each unit produced. The budget indicates that the material costs $2.50 per pound. Actual units produced totaled 8,000. The company used a total of 8,200 pounds of material at an actual cost of $2.40 per pound. There were no beginning or ending inventories of raw materials. The input price and input quantity variances, respectively, would be:

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The Answer of Thurston Company's budget allows for one pound of material to be used for each unit produced. The budget indicates that the material costs $2.50 per pound. Actual units produced totaled 8,000. The company used a total of 8,200 pounds of material at an actual cost of $2.40 per pound. There were no beginning or ending inventories of raw materials. The input price and input quantity variances, respectively, would be:

Thurston Company's Budget Allows for One Pound of Material to Be