Material Variances-Accounting
I really need help withthis one, I have literally tried everything and still am unable to get the answer correct:
The standard cost of Product B manufactured by Mateo Company includes 3 units of direct materials at $6.25 per unit. During June, 28,000 units of direct materials are purchased at a cost of $5.88 per unit, and 28,000 units of direct materials are used to produce 9,000 units of Product B.
Repeat (a), assuming the purchase price is $6.50 and the quantity purchased and used is 26,200 units.
So far I have only been able to get the Material Price Variances:
(a) 10360 F
and
(b) 6550 U
I think where Im stuck is getting the correct "standard quantity" to plug into the equations.
I keep getting 27000 as the quantity but every number I have tried, including this number turns out incorrect :(