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Materials price for paper shredders

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Each paper shredder has a standard material cost of 20lbs.at $6.50/lb. or $130 in total. 60,000lbs of material were purchased for $420,000 during the period and 39,000lbs were used in the production of 2,000 good units. Compute the direct materials price and quantity variances. Label them as favorable or unfavorable.

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Solution Summary

The solution calculates the materials price and quantity variances for paper shredders.

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Please see the attached file.

1. Concept of Direct Material variance with its classification.

2. Analysis ...

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