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Module $8$ Homework.xIsx

E$10-7$

$\backslash$table$[[$Exercise $11-6$ Calculating Material Variances$],[$Problem data follows:$],[$Number of rings produced in March,,$1,500,],[$Standard cost of each ounce of gold,,$1,000,],[$Standard quantity of material in ounces,,$0\mathrm{.}5,],[$Cost of gold purchased and used in March,,$788,480,],[$Cost of gold purchased per ounce,,$1,024,],[,,,,,,],[$Required$],[$Determine the material price variance and the material quantity variance for March. Indicate whether each variance is favorable or unfavorable.$],[$Material price variance,,,,,$],[,,,,],[,,,,=,,],[$Favorable or unfavorable?,,$],[,,,,,,],[$Material quantity variance,,,,,,$],[,,,,=,,],[,$Favorable or unfavorable?,,$]]$

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