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Thepotemich [5.8K]
3 years ago
11

A company developed the following per-unit standards for its product: 2 pounds of direct materials at $4 per pound. Last month,

1,500 pounds of direct materials were purchased for $5,700. The direct materials price variance for last month was
a. 5,700 Favorable
b. $300 Favorable
c. $150 Favorable
d. $300 unfavorable
Business
1 answer:
stepladder [879]2 years ago
5 0

Answer:

b. $300 Favorable

Explanation:

The computation of the material price variance is shown below:

= Actual Quantity × (Standard Price - Actual Price)

= 1,500 pounds × ($19.30 - $5,700 ÷ 1,500 pounds)

= 1,500 pounds × ($4 - $3.8)

= 1,500 pounds × $0.2

= $300 favorable

We simply take the difference of the prices and then multiplied it by the actual quantity so that the correct amount can be calculated

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c) $ 24,200

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