Question: What is the direct materials quantity variance? QUESTION 4 10 points Norva, Inc. has budgeted the following costs for the manufacture of Xpl, a component

What is the direct materials quantity variance?

What is the direct materials quantity variance? QUESTION 4 10 points Norva,

QUESTION 4 10 points Norva, Inc. has budgeted the following costs for the manufacture of Xpl, a component used in several of its products in 2021. Planned production Budgeted Direct Materials (total) $0.40 per ounce Budgeted Direct Labor (total) 4,500 units of XP1 13,500 ounces at 1, 500 hours at $35.00 per hour Actual production Actual Direct Materials used (total) $0.44 per ounce Actual Direct Labor used (total) 4,800 units of XP1 14,500 ounces at 1,550 hours at $37.00 per hour What is the direct materials quantity variance? (Note this could be a positive number indicating an unfavorable variance or a negative number indicating a favorable variance.)

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