Calculate the price variance based on the following data, be sure identify if this variance as...
Calculate the price variance based on the following data, be sure identify if this variance as favorable or unfavorable:
Actual Price $6.00
Standard Prince $5.90
Actual Quantity 1,000 units
Standard Quantity 900 units
Homework Answers
| Price Variance | = | (Standard Price - Actual Price)*Actual quantity | |||||
| = | (5.90-6.00)*1000 | ||||||
| = | $ 100 | unfavorable | |||||
| Since Actual price is more than standard price, variance is unfavorable. | |||||||
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Calculate the price variance based on the following data, be
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