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babunello [35]
3 years ago
14

Waterway Industries has a material price standard of $2.00 per pound. 6600 pounds of materials were purchased at $2.20 a pound.

The actual quantity of materials used was 6600 pounds, although the standard quantity allowed for the output was 5200 pounds.
Business
1 answer:
GrogVix [38]3 years ago
6 0

Answer:

The appropriate solution will be "$1320".

Explanation:

The given values are:

Material's actual quantity

= $6600

Standard price

= $2.00

Actual price

= $2.20

Now,

The material price variance will be:

= Actual quantity (Standard price - Actual price)

On substituting the values, we get

= 6600(2.00-2.20)

= 6600\times (-0.20)  

= 1320 ($)

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