A company provided the following direct materials cost
information. Compute the direct materials price variance.
Standard costs assigned: | |||
Direct materials standard cost (410,000 units @ $3.90/unit) | $ | 1,599,000 | |
Actual costs: | |||
Direct Materials costs incurred (409,250 units @ $4.00/unit) | $ | 1,637,000 |
$1,599,000 Favorable.
$1,599,000 Unfavorable.
$40,925 Unfavorable.
$40,925 Favorable.
$41,000 Favorable.
Correct Answer:
$ 40,925 Unfavourable
Working:
Material Price Variance |
||||||
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Quantity |
( |
$ 3.90 |
- |
$ 4.00 |
) |
x |
409250 |
-40925 |
||||||
Variance |
40925 |
Unfavourable-U |
End of answer.
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