Compute the total, price and quantity variances for material

Reference no: EM131065960

Wales Company purchased (at a cost of $11,680) and used 2,000 pounds of materials during May. Wales's standard cost of materials per unit produced is based on 2.70 pounds per unit at a cost $5.90 per pound. Production in May was 680 units.

Compute the total, price, and quantity variances for materials.

Total Materials Variance

Neither favorable nor unfavorableFavorableUnfavorable

Materials Price Variance

Neither favorable nor unfavorableUnfavorableFavorable

Materials Quantity Variance

FavorableUnfavorableNeither favorable nor unfavorable

Reference no: EM131065960

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