Question
The following materials standards have been established for a particular product: Standard quantity per unit of output 5.5 meters Standard price $ 18.10 per meter
The following materials standards have been established for a particular product:
| Standard quantity per unit of output | 5.5 | meters | |
| Standard price | $ | 18.10 | per meter |
The following data pertain to operations concerning the product for the last month:
| Actual materials purchased | 8,700 | meters | |
| Actual cost of materials purchased | $ | 163,560 | |
| Actual materials used in production | 8,200 | meters | |
| Actual output | 1,460 | units | |
What is the materials price variance for the month?
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Financial and Managerial Accounting Using Excel for Success
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
1st edition
978-1111993979
