Homework Answers
Correct answer----------$450 Favorable
.Working
I have put actual quantity purchased instead of quantity used. If quantity used is applied the answer will be $ 394 Favorable
| Material Price Variance | ||||||
| ( | Standard Rate | - | Actual Rate | ) | x | Actual Quantity |
| ( | $ 0.85 | - | $ 0.80* | ) | x | 9000 |
| 450 | ||||||
| Variance | $ 450.00 | Favourable-F | ||||
*Actual rate = 7200/9000=$0.80
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