The following direct materials data pertain to the operations of Stone Wealth

The following direct materials data pertain to the operations of Stone Wealth Manufacturing Company for the month of March.

Standard materials price $10.00 per pound

Actual quantity of material purchased and used 32800 pounds

The standard cost card shows that a finished product contains 4 pounds of material. The 32800 pounds were purchased in March at a discount of
5% from the standard price. In March 8000 units of finished product were manufactured.

Instructions

Prepare a matrix for materials and calculate the materials variances