Crown Jewelry produced 1,200 rings during March. The standard cost of each ounce of gold used in a..

Crown Jewelry produced 1,200 rings during March. The standard cost of each ounce of gold used in a ring is $325 per ounce. The standard quantity of material for each ring is a half ounce of gold per ring. The cost of gold purchased and used in March was $224,000 at $350 per ounce. Determine the material price variance and the material quantity variance for March. Indicate whether each variance is favorable or unfavorable.

Crown Jewelry produced 1 200 rings during March The standard co

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