Would like to double check my answers please explain in detail and show work for

Question

Would like to double check my answers please explain in detail and show work for the answers :) thank you

Quiz Chapter 22 gnment HakeAssignmentMaindo?invoker &takeAssignmentsessiontocator-assignment; take&inprogress-; false Aquatic Corp. s standard material requirement to produce one Model 2000 is 15 pounds of material $110.00 per pound. Last month, Aquatic purchased 170,000 pounds of material at a total cost of $17,850,000. It used 162,000 pounds to produce 10,000 units of Model 2000. Required: Calculate the material price variance and material quantity variance, and indicate whether each variance is favorable or unfavorable. Enter favorable variances as negative numbers a. Material price variance -810,000 Favorable b. Material quantity variance 1,320,00 Unbl ENG 10:25 PM 4/18/2018

Explanation / Answer

Standard = 162000*110 = 17820000

Actual = 162000*105 = 17010000

Material Price Variance = 17820000-17010000=810000F

Material Quantity Variance = (150000-162000)*110=1320000U

Direct Labour time variance

(7000-7700)*16 = 11200U

115700-111000=4700F

Yes your all answers are absolutely correct cheers!

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