Myers Corporation has the following data related to direct materials costs for November: actual costs for...

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Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,670 pounds of mat

business accounting

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Answer 1

Answer #1

Direct material price variance:

(Actual quantity*standard price)-(Actual quantity*Actual price)

=(4670*$6.4)-(4670*$5)

=$29888-$23350

=$6538(Favourable)

Therefore direct material price variance -$6538(Favourable)

Option -c

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Answer 2

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