Acc561 Introduction to Management Accounting: E22-5 The standard cost of Product B manufactured

Acc561 Introduction to Management Accounting
E22-5
The standard cost of Product B manufactured by Mateo Company includes three units of direct materials at $5.00 per unit. During June, 28,000 units of direct materials are purchased at a cost of $4.70 per unit, and 28,000 units of direct materials are used to produce 9,000 units of Product B 

Instructions:
a. Compute the total materials variance and the price and quantity variances.
b. Repeat the question above, assuming the purchase price is $5.20 and the quantity purchased and used is 26,200 units.
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