The following materials standards have been established for a particular product: ...
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Accounting
The following materials standards have been established for a particular product:
| Standard quantity per unit of output | 4.5 | meters | |
| Standard price | $ | 17.60 | per meter |
The following data pertain to operations concerning the product for the last month:
| Actual materials purchased | 7,000 | meters | |
| Actual cost of materials purchased | $ | 126,350 | |
| Actual materials used in production | 6,600 | meters | |
| Actual output | 1,440 | units | |
What is the materials price variance for the month?
Multiple Choice
$8,710 U
$7,400 U
$2,166 U
$3,150 U
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