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Amalgamated Manipulation Manufacturings (AMM) standards anticipate that there will be 5 pounds of raw material...

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Accounting

Amalgamated Manipulation Manufacturings (AMM) standards anticipate that there will be 5 pounds of raw material used for every unit of finished goods produced. AMM began the month of May with 6,000 pounds of raw material, purchased 15,000 pounds for $22,500 and ended the month with 2,000 pounds on hand. The company produced 4,000 units of finished goods. The company estimates standard costs at $1.80 per pound. What is the materials price variance for the month of May?

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