Question: Can I get some help solving this question regarding direct material price variance and direct material quantity variance? Spring Semester 2021 Dark Shadows Corporation manufactures

 Can I get some help solving this question regarding direct material

Can I get some help solving this question regarding direct material price variance and direct material quantity variance?

Spring Semester 2021 Dark Shadows Corporation manufactures tar for paving asphalt roads sold in steel drums. The firm set the following standards for direct materials during 2021: 50 standard gallons of tar per drum at a standard cost of $15.30 per gallon At the end of 2021, Dark Shadows reported the following actual results related to their manufacturing process: Purchased 24,000 gallons of tar at $14.25 per pound and used 23,500 gallons to produce 510 drums Required: Calculate the direct material price variance and direct material quantity variance (show work and clearly label each answer). Note that the amount purchased does not equal the amount used; therefore, you must use the 4-line approach shown in class. Make sure your name appears on your submission

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