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EX 9-4 Direct materials variances Obj. 3 The following data relate...

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Accounting

EX 9-4 Direct materials variances
Obj. 3
The following data relate to the direct materials cost for the production of 50,000 automobile tires:
\table[[Actual:,725,000lbs. at $3.00 per lb.],[Standard: ,730,000lbs, at $2.95 per lb.,]]
a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.
b. To whom should the variances be reported for analysis and control?
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