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Matinna Co. maintains no inventories and has the following data pertaining to one of its direct materials in July: Standard quantity of direct materials for
Matinna Co. maintains no inventories and has the following data pertaining to one of its direct materials in July:
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Standard quantity of direct materials for the units manufactured (SQ) |
| 30,000 |
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Direct materials purchasesactual cost | $ | 63,000 |
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Standard price per unit of direct materials (SP) | $ | 2.00 |
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Direct material efficiency variancefavorable | $ | 4,500 |
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All materials purchased during the month were issued to production.
What was the direct materials price variance (purchase) for July, rounded to the nearest dollar?
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