The following standards have been established for a raw material used to make product O84:
The following data pertain to a recent month's operations:
The direct materials purchases variance is computed when the materials are purchased.
Required:
a.What is the materials price variance for the month?
b.What is the materials quantity variance for the month?

Question

The following standards have been established for a raw material used to make product O84:
  The following data pertain to a recent month's operations:
  The direct materials purchases variance is computed when the materials are purchased.
Required:
a.What is the materials price variance for the month?
b.What is the materials quantity variance for the month?

Quizplus · Accepted Answer

The Answer of The following standards have been established for a raw material used to make product O84:
  The following data pertain to a recent month's operations:
  The direct materials purchases variance is computed when the materials are purchased.
Required:
a.What is the materials price variance for the month?
b.What is the materials quantity variance for the month?

The Following Standards Have Been Established for a Raw Material