Question 5 The following is given about a product: Standard quantity per unit of output 14.6...

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Question 5 The following is given about a product: Standard quantity per unit of output 14.6 Lbs. Standard price $17.05 /Lbs. Actual rate $ 19.50/Lbs. Actual quantity per unit of output 15.5 Lbs. Actual output 800 units Required: What is the materials spending and materials price variance for the month? Question 5 The following is given about a product: Standard quantity per unit of output 14.6 Lbs. Standard price $17.05 /Lbs. Actual rate $ 19.50/Lbs. Actual quantity per unit of output 15.5 Lbs. Actual output 800 units Required: What is the materials spending and materials price variance for the month?