Previous Pace Next Page Page 1 of 9 Question 1 (2 points) Elia Ltd has set the following direct material standards per unit of product: 2.5 kg @ $3.00 per kg. During April, actual direct material purchased and used amounted to 8000 kg at a total cost of $24,800. Actual production amounted to 3000 units. Determine Ella's direct Material Price variance. (See formulas below) Standard Costs Formulas as per your prescribed text book PG-Purchased Quantity: AP - Actual Price; SP - Standard Price; AQ - Actual Quantity: 50- Standard Quantity: AR - Actual rate: SR - Standard Bate; AH - Actual Hours: SH - Standard Hours Material Variances Direct Material Price Variance (based on purchased quantity* POIAP-SP) / (PO x AP)-(POX Direct Material Quantity Variance - SPAQ-SO) / (AQ x SP) - (5QX SP) Total Material Variance Price Quantity from above SP) a) $750(U) Ob) $800(U) c) $700(U) d) $1,500 (U) Previous Par Next Page Page 1 of 9 GOD 11 ... DO FO 20 F3 FO F4