=+EX 23-5 Direct materials variances obj. 3

✔ Quantity variance,

$184 U Determine the price variance, quantity variance, and total direct materials cost variance for March.

The following data relating to direct materials cost for March of the current year are taken from the records of Play Tyme Inc., a manufacturer of plastic toys:

Quantity of direct materials used 5,000 lbs.

Actual unit price of direct materials $2.40 per lb.

Units of finished product manufactured 1,200 units Standard direct materials per unit of finished product 4 lbs.

Direct materials quantity variance—unfavorable $500 Direct materials price variance—favorable $500