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.
Prepare a matrix for materials and calculate the materials variances