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Determine the price variance and quantity variance

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Reference no: EM132687094

Problem - Direct materials variances - The following data relate to the direct materials cost for the production of 2,000 automobile tires:

Actual:

43,100 lbs. at $2.05

$88,355

Standard:

44,100 lbs. at $2.00

$88,200

Required -

a. Determine the price variance, quantity variance, and total direct materials cost variance.

b. To whom should the variances be reported for analysis and control?

Reference no: EM132687094

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