Wallace Corporation has the following standards for its direct materials: Standard cost: $3.70 per pound Standard quantity: 5.80 pounds per product During the most recent month, the company purchased and used 32,300 pounds of material in manufacturing 5,500 products, at a total cost of $123,000. Compute the total materials variance.

Answer rating: 100% (QA)

To compute the total materials variance we need to calculate the difference between the actual c... View the full answer