Actual amount paid per pound for materials. $14.50

Total standard pounds for units produced this period.12,500

Pounds of materials used 13,250

Direct materials price variance (favorable) $4,637.50

All material purchased was used in production.

1- What is the standard price paid for materials?

2- What is the direct materials quantity variance?

3- What is the total direct materials cost variance?

4- If the direct materials price variance was unfavorable, what would be the standard price?