Phelps Gold manufactures award medals. W August, Phelps produced 4,500 medals, 300 more than expected. During the
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Phelps Gold manufactures award medals. W August, Phelps produced 4,500 medals, 300 more than expected. During the month, the company purchased 2,000 ounces of gold for 3190,000. The standard price for the gold is $350 per ounce. The company actually used 1,900 ounces of gold for production.
Required
Calculate Phelps's direct materials price valiance for the month.
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