Analyze Budget Variances Practice Test

Ridgewood Manufacturing's standard allows 3 pounds of aluminum per unit at $5.00 per pound. During July, 800 units were produced using 2,600 pounds of aluminum. What is the direct materials quantity variance?

Sumner Products' standard for Component Y is 4 units at $7.50 each. During October, 1,200 finished goods units were produced. Actual usage was 4,600 units of Component Y purchased and used at $8.00 each. What is the direct materials price variance?