Solly Corporation produces a product for national distribution. Standards for the product are: Materials: 12 ounces...

 

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Solly Corporation produces a product for national distribution. Standards for the product are: Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. . • Labor: 2,500 hours worked at a total cost of $20,625. The materials quantity variance is: Solly Corporation produces a product for national distribution. Standards for the product are: Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. . • Labor: 2,500 hours worked at a total cost of $20,625. The materials quantity variance is:

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