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Ventura uses a just-in-time (JIT) manufacturing system for all its materials, components, and products. The...

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Accounting

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Ventura uses a just-in-time (JIT) manufacturing system for all its materials, components, and products. The master budget of the company for June called for use of 11,100 square feet of materials, while the flexible budget for the actual output of the month had 10,100 square feet of materials at a standard cost (SP) of $980 per square foot Company records show that the actual price paid (AP) for the materials used in June was $960 per square foot, and that the direct materials purchase-price variance for the month was $2,050 The materials usage (quantity) variance for June, to the nearest dollar, was: Multiple Choice $1,440 unfavorable $1.470 unfavorable $1,440 unfavorable. $1,470 unfavorable $8,770 favorable. $8,160 unfavorable. $8,330 unfavorable

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