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Assume the following: The standard price per pound is $2.00. The standard quantity of pounds allowed per unit of finished goods is 4 pounds. The

Assume the following:

  • The standard price per pound is $2.00.
  • The standard quantity of pounds allowed per unit of finished goods is 4 pounds.
  • The actual quantity of materials purchased and used in production is 50,100 pounds.
  • The actual purchase price per pound of materials was $2.25.
  • The company produced 13,000 units of finished goods during the period.

What is the materials price variance?

Multiple Choice

  • $12,525 U

  • $12,525 F

  • $13,026 U

  • $13,026 F

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