Chapter 23, Problem 3EYCT

XYZ Industries manufactures premium-quality glassware. The standard materials cost is 4 pounds of raw glass at $2.25 per pound. During October, 18,000 pounds of raw glass costing $2.40 per pound were used to produce 7,200 glassware items. Determine the materials price variance and materials quantity variance.

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Martinez Industries manufactures wood polish. The standard direct materials quantity is 0.70 pounds per bottle at a cost of $2.80 per pound. The actual usage for the production of 45,000 bottles was 0.75 pounds per bottle at an actual cost of $2.75 per pound. Calculate the direct materials price variance and the direct materials quantity variance.