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# Calculate the material price and material quantity variance

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In October, 5,000 meters of raw material were purchased at an actual cost of \$4.50 per meter. During October, 4,850 meters of the raw material were used to produce 2,400 units of the completed product. Standards call for 2 meters of the raw material for each unit of the completed product. The standard price of the raw material is \$4.70 per meter. The materials variances for October were:

Materials price variance Materials quantity variance
A) \$970 F \$225 U
B) \$1000 F \$225 U
C) \$970 F \$235 U
D) \$1000F \$235 U

Calculate the material price and material quantity variance.

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#### Solution Summary

The expert calculates the material price and material quantity variance.

\$2.19