Blossom Industries uses a standard cost system in which direct material is carried at standard cost. Blossom has established the following standards for one unit of product: standard quantity of 7 pounds, standard price $1.80 per pound. During January, Blossom purchased 160,500 pounds of direct material at a cost of $305,000 and used 143,000 pounds in production of 18,800 units.

Calculate the direct materials price variance and indicate whether the variance is favorable or unfavorable.

View Policies Current Attempt in Progress Blossom Industries uses a standard cost system in which direct material is carried at standard cost Blossom has established the following standards for one unit of product: standard quantity of 7 pounds, standard price $1.80 per pound. During January, Blossom purchased 160,500 pounds of direct materia at a cost of $305,000 and used 143,000 pounds in production of 18,800 units Calculate the direct materials price variance and indicate whether the variance is favorable or unfavorable Direct materials price variance eTextbook and Media Save for Later Attempts: 0 of 2 used Subenit