Wales Company

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Wales Company purchased (at a cost of $11,680) and used 2,000 pounds of materials during May. Wales’s standard cost of materials per unit produced is based on 2.70 pounds per unit at a cost $5.90 per pound. Production in May was 680 units. (a) Compute the total, price, and quantity variances for materials.  (Round answers to 0 decimal places, e.g. 125.)

Total Materials Variance

$

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif Neither favorable nor unfavorableFavorableUnfavorable

Materials Price Variance

$

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif Neither favorable nor unfavorableUnfavorableFavorable

Materials Quantity Variance

$

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif FavorableUnfavorableNeither favorable nor unfavorable