The Standards for Product J35 Call for 1

question 157

Essay

The standards for product J35 call for 1.0 pounds of a raw material that costs $15.60 per pound. Last month, 5,700 pounds of the raw material were purchased for $90,345. The actual output of the month was 5,280 units of product J35. A total of 5,200 pounds of the raw material were used to produce this output.
Required:
a. What is the materials price variance for the month?
b. What is the materials quantity variance for the month?

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Definitions:

Emotion-Laden Words

Words specifically chosen to evoke emotional responses from a listener or reader to influence thoughts or actions.

Listening

The active process of receiving and understanding messages communicated by others, often emphasized as a key skill in effective communication and sales.

Empathy

The ability to understand and share the feelings of another, key in building meaningful relationships and effective communication.

Feedback

Information or criticism about a prior action or behavior from an individual, which is used as a basis for improvement.