Connect Other Bookin Chapter 10 Quia Help Save & ExitSubmit The following materi

Question

Connect Other Bookin Chapter 10 Quia Help Save & ExitSubmit The following materials standards have been established for a particular product 5 Standard quantity per unit of output Standard price 4.4 meters $18.70 per meter points ?00m2. The following data pertain to operations concerning the product for the last month 7,500 meters Actual materials purchased Actual cost of materials purchased $147,750 Actual materials used in production 7,100 meters Actual output 1,550 units What is the materials price varliance for the month? Multiple Choice

Explanation / Answer

Answer

$ 7500 U

Materials price variance

( actual price - standard price ) * AQ purchased

( 147750 - 7500 ) * 18.70

7500

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