Total Materials Variance Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.7 ounces of aluminum per can. During the month of April, 450,000 cans were...

Extracted text: Total Materials Variance Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.7 ounces of aluminum per can. During the month of April, 450,000 cans were produced using 1,875,000 ounces of aluminum. The actual cost of aluminum was $0.10 per ounce and the standard price was $0.08 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the total variance for aluminum for the month of April. Enter amount as a positive number and select Favorable or Unfavorable. $ Unfavorable Feedback V Check My Work 1. Compute the actual costs = actual quantity x actual cost per unit; (AQ × AP) 2. Compute the standard cost = standard quantity (units produced x standard unit quantity) x standard cost per unit; (SQ × SP) 3. Subtract standard costs from the actual costs then determine if the result is favorable or unfavorable Review the "How to Calculate the Total Variance for Materials" example in your text.