Quantile Corporation has the following standards for its direct materials: Standard Cost: $3.80 per pound Standard Quantity: 6.00 pounds per product During the most recent month, the company purchased and used 33,900 pounds of material in manufacturing 5,600 products, at a total cost of $131,900. Compute the materials quantity variance.

Managerial Accounting: The Cornerstone of Business Decision-Making
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Chapter10: Standard Costing And Variance Analysis
Section: Chapter Questions
Problem 58E: At the beginning of the year, Lopez Company had the following standard cost sheet for one of its...
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Quantile Corporation has the following standards for its direct
materials:
Standard Cost: $3.80 per pound
Standard Quantity: 6.00 pounds per product
During the most recent month, the company purchased and
used 33,900 pounds of material in manufacturing 5,600
products, at a total cost of $131,900. Compute the materials
quantity variance.
Transcribed Image Text:Quantile Corporation has the following standards for its direct materials: Standard Cost: $3.80 per pound Standard Quantity: 6.00 pounds per product During the most recent month, the company purchased and used 33,900 pounds of material in manufacturing 5,600 products, at a total cost of $131,900. Compute the materials quantity variance.
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