HAF produces a single product. The standard production requirement for each unit requires 2 kilograms...
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Accounting
HAF produces a single product. The standard production requirement for each unit requires 2 kilograms of a single material at a standard cost of $3 per kilogram. During the last year, HAF purchased 10,000 kilograms of materials at total cost of $34,000. Also last year, HAF manufactured 3,000 units of product using a total of 7,500 kg. What was the HAF's materials quantity variance for the year?
Multiple Choice
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Nil
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$4,500 favourable
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$4,000 unfavourable
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$4,500 unfavourable
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