Use the information provided to answer the questions. Actual price paid per...
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Accounting
Use the information provided to answer the questions.
| Actual price paid per pound of material | $13.50 |
| Total standard pounds for units produced this period | 12,600 |
| Pounds of material used | 13,150 |
| Direct materials price variance favorable | $4,602.50 |
All material purchased was used in production.
Enter all amounts as positive numbers.
A. What is the standard price for materials?
Standard price paid $___
B. What is the direct materials quantity variance?
Direct materials quantity variance $___ (Favorable, or Unfavorable?)
C. What is the total direct materials cost variance?
Total direct materials cost variance $___ (Favorable, or Unfavorable?)
D. If the direct materials price variance was unfavorable, what would be the standard price?
Standard price $___
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