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Calculate the materials price and usage variances

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Question: Lata Inc., produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.5 ounces of aluminum per can. During the month of April, 300,000 cans were produced using 1,250,000 ounces of aluminum. The actual cost of aluminum was $0.09 per ounce and the standard price was $0.08 per ounce. There are no beginning or ending inventories of aluminum.
Materials Variances Refer to the information for Lata Inc. above.

Required: Calculate the materials price and usage variances using the columnar and formula approaches.

Reference no: EM131695312

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