Craydye makes all sorts of moldings. Its standard quantity of material allowed is 1 foot of wood per 1 foot of molding at a standard price of $3.00 per foot. During August, it purchased 200,000 feet of wood at a cost of $2.00 per foot, which produced only 199,000 feet of molding. Calculate the materials price variance and the materials usage variance. a.$600,900 U and $2,500 F b.$200,000 F and $3,000 U c.$400,000 F and $1,000 U d.$700,000 U and $4,000 F

Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is: