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Sizzle Company uses a standard cost system to collect costs related to the production of...

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Accounting

Sizzle Company uses a standard cost system to collect costs related to the production of its "No-Stick" lawn chairs. The direct material for the chairs is teflon. Sizzle uses a standard direct material cost of $56.00 per chair (0.8 pounds of teflon $70.00 per pound). During April, Sizzle purchased 2,100 pounds of teflon for $148,575. Sizzle used 1,710 pounds of this teflon in April to produce 1,760 lawn chairs. Required: Calculate Sizzle's materials price and materials quantity variances for April.

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