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    The following materials costs relate to product X.

    Standard cost/unit:
    Raw materials 50 kgs @ 2.50/kg

    Actual results for month 1:
    Production 150 units
    Direct Material Purchases 7000kg at a cost of £18,200

    Required:
    Calculate the following:

    -Total Materials Cost Variance
    - Materials Price Variance
    - Materials Usage Variance
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    (Original post by sk007_644)
    The following materials costs relate to product X.

    Standard cost/unit:
    Raw materials 50 kgs @ 2.50/kg

    Actual results for month 1:
    Production 150 units
    Direct Material Purchases 7000kg at a cost of £18,200

    Required:
    Calculate the following:

    -Total Materials Cost Variance
    - Materials Price Variance
    - Materials Usage Variance
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