NorthShore manufactures a product which should use 3 ounces of chemical XYZ for

Question

NorthShore manufactures a product which should use 3 ounces of chemical XYZ for each unit manufactured, and XYZ is normally purchased for $12 per ounce. During the month, NorthShore used 2,980 cunces of XYZ at a iota; cost of $34,270 to produce 1.000 units of its product, Answer the following: How much is the total materials variance? It the total materials variance favorable or unfavorable? How much is the materials quantity variance? It the materials quantity variance favoriable or unfavorable Haw much is the materials cost variance? Is the materials cost variance favorable or unfavorable? Enter whole numbers for questions 1, 3 and 5. Do not use dollar signs, commas, parantheses, negative sigma, etc. Enter favorable or unfavorable for questions, 2, 4 and 6. Use all lower case lettes.

Explanation / Answer

Standared Actual AQP *SQ*SR Given AQ*SR 1000*3*12 =2980*12 36000 34720 35760 Total material Variance36000-34720 1280 Favorable Material Quantity variance 36000-35760 240 Favorable Material Cost Variance 35760-34720 1040 Favorable

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