A company purchases 10000 pounds of materials. The materials price variance is $6000 favorable. What is the difference between the standard and actual price paid for the materials?

$1.67

Cannot be determined from the data provided

$0.60

$1.00

2. If the materials price variance is $3900 F and the materials quantity and labor variances are each $3300 U, what is the total materials variance?

$4200 U

$3900 F

$600 F

$3300 U

3. A company purchases 11000 pounds of materials. The materials price variance is $5500 favorable. What is the difference between the standard and actual price paid for the materials?

$2.00

$5.50

$0.50

$1.00