Compute price and quantity materials variances

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Reference no: EM13165194

1-During March, Tile Company purchases and uses 6,600 pounds of materials costing $26,730 to make 3,000 tiles. Tile Company's standards material cost per tile is $8 (2 pounds of material X $4.00) .Instruction compute price, and quantity materials variances for the Tile Company for March. Indicate amount ($) and favorable (F) or unfavorable (U) effects. Price variance

2- During January, Ray Company incurs1,850 hours of direct labor at an hourly cost of $9.60 in producing 1,000 units of its finished products. Ray's standard labor cost per units of output is $18(2 hours X $9.00) Instructions compute the price, and quantity labor variances for Ray Company for January. Indicate amounts ($) and favorable(F) or unfavorable (U) effect.

Reference no: EM13165194

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