eC&Secure; https//newoon tmheducat nnect.htnm xam 3 Chapters 10-13 The tollowing

Question

eC&Secure; https//newoon tmheducat nnect.htnm xam 3 Chapters 10-13 The tollowing matertals standards have been established for a panicular product Standard quantity per unit of output Standard price 4.2 seters 18.40 per meter 10 8 The following data pertain to operations concerning the product for the last month Actual naterials purchased Actual cost of materials purchased Actual materials used in production Actual output 7,268 meters 138,600 6,789 meters 1,558 units Whar is the maternials price variance for the month? Mutiple Choice $3.658 $6320 U $7700 u Prey LE2002

Explanation / Answer

Materials price variance = Actual quantity×Standard cost per unit-Actual cost

= 7,200×$18.40-$138,600

= $132,480-$138,600

= $6,120 U

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