Crane Company purchased (at a cost of $11,640 ) and used 2,400 pounds of materials during May. Crane's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5.00 per pound. Production in May was 1,140 units. (a) Compute the total, price, and quantity variances for materials. Total Materials Variance Materials Price Variance Materials Quantity Variance

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Crane Company purchased (at a cost of $11,640) and used 2,400 pounds of materials during May. Crane's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5.00 per pound. Production in May was 1,140 units. (a) Compute the total, price, and quantity variances for materials. Total Materials Variance Materials Price Variance $ SA 290 Unfavorable SA $ 160 Favorable Materials Quantity Variance $ 450 Unfavorable Crane Company purchased (at a cost of $11,640) and used 2,400 pounds of materials during May. Crane's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5.00 per pound. Production in May was 1,140 units. (a) Compute the total, price, and quantity variances for materials. Total Materials Variance Materials Price Variance $ SA 290 Unfavorable SA $ 160 Favorable Materials Quantity Variance $ 450 Unfavorable