What is the materials price variance for the month?
The following data pertain to operations concerning the product for the last month:
Actual materials purchased…………………….. 4,800 grams
Actual cost of materials purchased …………… $86,880
Actual materials used in production …………. 4,200 grams
Actual output ………………………………………… 21,080 units
Required:
a. What is the materials price variance for the month?
b. What is the materials quantity variance for the month?
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