The Following Direct Materials Data Pertain to the Operations of Wright

Essay

The following direct materials data pertain to the operations of Wright Co. for the month of December.
Standard materials price $5.00 per pound
Actual quantity of materials purchased and used 16,500 pounds
The standard cost card shows that a finished product contains 4 pounds of materials. The 16,500 pounds were purchased in December at a discount of 4% from the standard price. In December, 4,000 units of finished product were manufactured.
Instructions
Prepare a matrix for materials and calculate the materials variances.