Consider a situation where the materials price variance is favorable and the materials quantity variance is unfavorable. How would you explain that situation?© BrainMass Inc. brainmass.com June 4, 2020, 4:22 am ad1c9bdddf
Interpret a favorable price variance:
If your materials price variance is favorable, that means you purchased it at below the standard price. You got a deal, or a discount or perhaps bought from a new vendor or tried a lower grade of materials and so spent less per pound/foot/part acquiring the materials.
Interpret an unfavorable quantity variance:
If your quantity variance is ...
Your discussion is 254 words and interprets the two variances first and then explains how they may or may not be related and why.