Explore BrainMass
Share

Quantity variance and other material variances

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows:

Actual costs 1,550 lbs. @ $9.10
Standard costs 1,600 lbs. @ $9.00

Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance.

© BrainMass Inc. brainmass.com October 15, 2018, 6:27 am ad1c9bdddf - https://brainmass.com/business/accounting/quantity-variance-material-variances-220104

Solution Preview

** Please see the attached file for the complete solution response **

Determine the (a) quantity variance, (b) price variance, ...

Solution Summary

This solution provides the steps to compute the quantity variance, price variance, total direct materials cost variance.

$2.19