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The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 3.4 grams $12.00 per grams The
The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 3.4 grams $12.00 per grams The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production 1,500 grams Actual output 410 units Materials price variance 2,200 grams $ 25,630 The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.)
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