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    askme42 Posts: 18, Reputation: 1
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    #1

    Jan 20, 2009, 01:54 PM
    Calculate Quantity Variance
    Company X has a price standard of $2 per lbs.

    5,000 lbs was bought at $2.20 per lbs.

    The actual quantity used was 5,000 lbs, although the standard quantity for output was 4,500 lbs

    What is Company X's quantity variance?
    askme42's Avatar
    askme42 Posts: 18, Reputation: 1
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    #2

    Jan 20, 2009, 03:28 PM
    Here is my answer

    (4,500 - 5,000) x 2 = $1,000 U

    please advise if inccorect
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