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Use the following information to answer questions 6 and 7:
Hanson Inc. has the following direct material standard to manufacture one Zippy:
- 1.5 pounds per Zippy at $4.00 per pound
- Last week, 1,700 pounds of material were purchased and used to make 1,000 Zippies.
- The material cost a total of $6,630.
6. Hansons material price variance (MPV) for the week was:
A. $170 unfavorable. B. $170 favorable. C. $800 unfavorable. D. $800 favorable.
7. Hansons material quantity variance (MQV) for the week was:
A. $170 unfavorable. B. $170 favorable. C. $800 unfavorable. D. $800 favorable.
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