Hsu Company produces a part with a standard of 5 yds. of material per unit. The standard price of one yard of material is $8.50. During the month, 8,800 parts were manufactured, using 45,700 yards of material at a cost of $8.30.
Required:
Determine the (a) price variance, (b) quantity variance, and (c) cost variance.

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The Answer of Hsu Company produces a part with a standard of 5 yds. of material per unit. The standard price of one yard of material is $8.50. During the month, 8,800 parts were manufactured, using 45,700 yards of material at a cost of $8.30.
Required:
Determine the (a) price variance, (b) quantity variance, and (c) cost variance.

Hsu Company Produces a Part with a Standard of 5