Question
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,680 pounds of material, $5.00; and standard costs for
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,680 pounds of material, $5.00; and standard costs for 4,450 pounds of material at $6.10 per pound.
What is the direct materials price variance?
$1,403 unfavorable
$5,148 unfavorable
$5,148 favorable
$1,403 favorable
The standard costs and actual costs for direct materials for the manufacture of 2,100 actual units of product are
Standard Costs | |
Direct materials (per completed unit) | 1,040 kilograms @$8.75 |
Actual Costs | |
Direct materials | 2,100 kilograms @ $8.20 |
Round your final answer to the nearest dollar.
The amount of direct materials price variance is
$1,155 favorable
$572 unfavorable
$1,155 unfavorable
$572 favorable
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