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What is the materials quantity variance for the month

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Reference no: EM132456037

Problem - The following materials standards have been established for a particular product:

Standard quantity per unit of output 6.0 pounds

Standard price $ 14.80 per pound

The following data pertain to operations concerning the product for the last month:

Actual materials purchased 7,200 pounds

Actual cost of materials purchased $64,480

Actual materials used in production 6,700 pounds

Actual output 860 units

The direct materials purchases variance is computed when the materials are purchased.

Required - What is the materials quantity variance for the month?

Reference no: EM132456037

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