Managerial Accounting

The following materials standards have been established for one of McVey's products: 5.0 pounds Standard quantity per unit of output Standard price $13.10 The following data pertain to operations concerning the product for the last month: 4,400 pounds 4,000 pounds Actual materials purchased Actual materials used in production Actual cost of materials purchased Actual output $55,000 700 units The direct materials prices variance is computed when the materials are purchased. What is the materials price variance for the month? Multiple Choice 0 $2,600 Unfavorable 0 $6,550 Unfavorable 0 $11,790 Unfavorable 0 $2,640 Favorable