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A new pharmaceutical drug calls for 4.5 ounces of compound

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A new pharmaceutical drug calls for 4.5 ounces of compound AN7-X1 per batch of 250 tablets. AN7-X1 has a standard price of $2 per ounce. An intial inventory of $8,000 ounces of AN7-X1 is purchased for $17,200. The firm produces 1,000 batches of the new drug and uses 4,600 ounces of AN7-X1. All variances are caluculated as soon as possible.

Calculate the price and quantity variance for AN7-X1.

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Customer: replied 5 years ago.
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