In: Accounting
The following materials standards have been established for a particular product:
Standard quantity per unit of output | 6.4 | pounds | |
Standard price | $ | 15.20 | per pound |
The following data pertain to operations concerning the product for the last month:
Actual materials purchased | 7,800 | pounds | |
Actual cost of materials purchased | $ | 64,880 | |
Actual materials used in production | 7,300 | pounds | |
Actual output | 900 | units | |
The direct materials purchases variance is computed when the materials are purchased.
What is the materials quantity variance for the month?