The standard cost of product 777 includes 2.1 units of direct materials at $6.00 per unit. During August, the company bought 29,300 units of materials at $6.25 and used those materials to produce 14,200 units. Compute the total, price, and quantity variances for materials. Total materials variance   $enter a dollar amount    favorable unfavorable or neither                                                         Materials price variance   $enter a dollar amount    favorable unfavorable or neither                                                         Materials quantity variance   $enter a dollar amount    favorable unfavorable or neither

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The standard cost of product 777 includes 2.1 units of direct materials at $6.00 per unit. During August, the company bought 29,300 units of materials at $6.25 and used those materials to produce 14,200 units.

Compute the total, price, and quantity variances for materials.

Total materials variance
 
$enter a dollar amount 
 
favorable unfavorable or neither                                                        
Materials price variance
 
$enter a dollar amount 
 
favorable unfavorable or neither                                                        
Materials quantity variance
 
$enter a dollar amount 
 
favorable unfavorable or neither                                                          
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