TB MC Qu. 10-34 The following materials standards... The following materials sta

Question

TB MC Qu. 10-34 The following materials standards... The following materials standards have been established for a particular product: 10 polnts Standard quantity per unit of output Standard price 4.4 meters $ 18.70 per meter ReferencesThe following data pertain to operations concerning the product for the last month Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 7,500 meters $147,750 7,100 meters 1,550 units What is the materials price variance for the month? Multiple Choice $7,900 U $13,450 U $7,500 U $5,516 U

Explanation / Answer

1) Materials price variance (actual price- standard price)*AQ purchased (147,750 - 7500*18.70) 7500 U answer 2) Materials price variance (actual price- standard price)*AQ purchased (x - 4)*25000 = 2,500 25000x - 100,000 = 2500 x      = (102,500)/25000 x = 4.1 answer

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