Your answer is correct.

What is the materials price variance? $($Round per unit calculations to $2$ decimal places, e$.$g$.1\mathrm{.}25$ and final answer to $0$ decimal places, e$.$g$.125.)$

Materials price variance $

eTextbook and Media

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$($b$)$

Your answer is partially correct.

What is the materials quantity variance? $($Round per unit calculations to $2$ decimal places, e$.$g$.1\mathrm{.}25$ and final answer to $0$ decimal places, e$.$g$.125.)$

Materials quantity variance

$

eTextbook and Media

Attempts: unlimited

$($C$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

$(d)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

$($e$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not "ideal" at this point, but the management is working toward that as a goal. At present, the company uses the following standards. Item Metal Plastic Rubber Item Labor Materials Per unit $1$lb$.12$ oz$.4$ oz$.$ Direct labor Per unit $15$ min. Cost $63$ per Ib$.$ $$1$ per lb$.88$ per lb$.$ Cost $$9\mathrm{.}00$ per hr$.$ Predetermined overhead rate based on direct labor hours $=$ $$3\mathrm{.}62$ The January figures for purchasing, production, and labor are: The company purchased $218,100$ pounds of raw materials in January at a cost of $79$ af Production used $218,100$ pounds of raw materials to make $110,000$ units in January. Direct labor spent $18$ minutes on each product at a cost of $$8\mathrm{.}80$ per hour. Overhead costs for January totaled $$30,265$ variable and $$74,000$ fixed. Answer the following questions about standard costs.

$($f$)$