Question
The following materials standards have been established for a particular product: Standard quantity per unit of output 6.0 meters Standard price $ 19.00 per meter
The following materials standards have been established for a particular product:
| Standard quantity per unit of output | 6.0 | meters | |
| Standard price | $ | 19.00 | per meter |
The following data pertain to operations concerning the product for the last month:
| Actual materials purchased | 10,200 | meters | |
| Actual cost of materials purchased | $ | 201,500 | |
| Actual materials used in production | 9,600 | meters | |
| Actual output | 1,580 | units | |
What is the materials price variance for the month?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Managerial Accounting College Of Dupage Edition
Authors: Karen Wilken Braun, Wendy M. Tietz
3rd Edition
1269222430, 978-1269222433
