The following data pertain to operations concerning the product for the last month: A) What is the materials price variance for the month? B) What is the materials quantity variance for the month? Solution Answer: Material Price variance = AQ(AP-SP) = 22135 - (1900*13) = 22135 - 24700 = 2565 Material quantity variance = (AQ-SQ)*SP = (1200-(360*3.1)) * 13 = (1200-1116) * 13 = 1092 .