Landram Corporation makes a product with the following standard costs: In March

Question

Landram Corporation makes a product with the following standard costs: In March the company produced 4,400 units using 10,180 kilos of the direct material and 2,160 direct labor-hours. During the month, the company purchased 10,750 kilos of the direct material at a cost of $76,630. The actual direct labor cost was $38,250 and the actual variable overhead cost was $11,951. The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased. The materials price variance for March is: (Do not round intermediate calculations.) $1,380 F $1,240 U $1,240 F $1,380 U

Explanation / Answer

Hi,

Please find the answer as follows:

= 76630 - 10750*7 = 1380 (U)

Thanks.

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