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Waterway Industries produces a product that requires 2.60 pounds of materials per unit. The allowance for waste and spoilage per unit is 0.30 pounds and 0.10 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $0.10 per pound, and receiving and handling costs are $0.07 per pound. The hourly wage rate is $14 per hour, but a raise which will average $0.20 will go into effect soon. Payroll taxes are $1.40 per hour, and employee benefits average $2.80 per hour. Standard production time is 1 hour per unit, and the allowance for rest periods and setup is 0.20 hours and 0.10 hours, respectively. The standard direct labor rate per hour is $14.20. $18.40. $14.00. $18.20. A company uses 7700 pounds of materials and exceeds the standard quantity by 500 pounds. The quantity variance is $1500 unfavorable. What is the standard materials price? Cannot be determined from the data provided. $2.00 $1.00 $3.00 All Coronado Industries produces a product requiring 4 pounds of material with a standard cost of $7.00 per pound. During December, All Coronado purchased 4900 pounds of material for $33712 and used the material to produce 400 products. What was the materials price variance for December? $825F$11312U$12137U$588F

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