Woodside Company manufactures tables with vinyl tops. The standard material cost for the vinyl used per Style-R table is $7.20 based on 8 square feet of vinyl at a cost of $.90 per square foot. A production run of 1,000 tables in January resulted in usage of 8,300 square feet of vinyl at a cost of $.85 per square foot, a total cost of $7,055. The materials quantity variance resulting from the above production run was:

Question

Quizplus · Accepted Answer

Materials quantity variance = (actual quantity of materials used - standard quantity of materials allowed) x standard price of material
Materials quantity variance = (8,300 - 8,000*) x $.90
* 1,000 units produced x 8 sq. ft. per unit
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Woodside Company Manufactures Tables with Vinyl Tops