The following materials standards have been established for a particular product:25 Standard quantity per unit...
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Accounting
The following materials standards have been established for a particular product:25
Standard quantity per unit of output 8.3 grams
Standard price $19.15 per gram
The following data pertain to operations concerning the product for the last month:
Actual total cost of materials used in production $141,375
Actual materials used in production 7,500 grams
Actual output 700 units
What is the materials price variance for the month?
1. $2,250 F
2. $7,540 U
3. $24,317 U
4. $7,660 U
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