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Compute the direct materials efficiency variance

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Reference no: EM131816407

Question - Golden Company reported the following information concerning its direct materials:

Direct materials purchased (actual) $ 348,400

Standard cost of materials purchased $ 346,500

Standard price times actual amount of materials used $ 229,900

Actual production 28,500 units

Standard direct materials costs per unit produced $ 7.50

Required:

(a) Compute the direct materials price variance.

(b) Compute the direct materials efficiency variance.

(c) Compute the direct materials cost variances.

Reference no: EM131816407

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