Question: Ned some help with this question Eastern Polymers, Inc., processes a base chemical into plastic. The standard costs and actual costs for direct materials, direct
Eastern Polymers, Inc., processes a base chemical into plastic. The standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 1,000 units of Product S were as follows: Direct materials $75.50 Direct overhead at $8.95 Factory overhead Standard Costs 1,000 pounds at $75 12,500 hours at $9 Actual Costs 980 pounds at 12,600 hours Rates per machine hour, based on 100% of productive capacity of 15,500 machine hours Variable cost, $3.50 $44.150 variable cost Fixed cost, $1.00 $15,000 fixed cost PROBLEM I Using the above information, determine the quantity variance, price variance and total direct materials cost variance
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