Question 2

Longhorn Manufacturing The following March information is available for Longhorn Manufacturing Company when it produced 21, 100 units: Standard: Material 2 pounds per unit $5.80 per pound Labor 3 direct labor hours per unit @ $10.00 per hour Actual: Material 42, 250 pounds purchased and used @ $5.65 per pound Labor 65, 300 direct labor hours at $9.75 per hour Refer to Longhorn Manufacturing. What is the material price variance? $6337.50 F $290.00 U $6337.50 UF $637.50 F