Edgar Inc Has a Materials Price Standard of $2

question 96

Multiple Choice

Edgar Inc. has a materials price standard of $2.00 per pound. Six thousand pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 6000 pounds although the standard quantity allowed for the output was 5400 pounds. Edgar Inc.'s materials price variance is

• A) $120 U.
• B) $1200 U.
• C) $1080 U.
• D) $1200 F.

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