Question: help please!!! Problem 5 ( 6 points each =12 points) Direct material Price Variance is (AQ *AP) - (AQ *SP) or (AP - SP)AQ. A
Problem 5 ( 6 points each =12 points) Direct material Price Variance is (AQ *AP) - (AQ *SP) or (AP - SP)AQ. A company developed the following per-unit standard for its product: direct materials at $6 per pound. Last month, 2,000 pounds of direct materials were actually purchased for $11.400. Calculate the direct materials price variance for last month. Please show work. Direct material Quantity Variance is (AQ*SP) - (SQ *SP) or (AQ - SQ)SP. The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 11,200 gallons of direct materials was actually used to produce 6,000 units of product. Calculate the direct materials usage variance for last month. Please show work
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