In its first month of operations, Multiplex Corporation purchased 40,000 pounds of material for $3.40 per pound. The company used 38,000 pounds of the material to produce 18,000 units of its only product. Multiplex uses a standard cost system and its standard quantity and price per unit are 2 pounds at $3.50 per pound. What was the material price variance for the month?

$4,000 favorable

None of these.

$4,000 unfavorable

$2,000 unfavorable

$2,000 favorable

What is the term used to describe the measure of the variance in sales quantity, holding the sales mix constant?

None of these.

Sales mix variance

Industry volume variance

Sales quantity variance

Market share variance