The Following Data Pertain to Operations Concerning the Product for the Last

question 128

Multiple Choice

The following data pertain to operations concerning the product for the last month: What is the materials price variance for the month?
A.$14,850 U
B.$8,250 U
C.$8,640 U
<underLine>D.</underLine> $2,860 F
AP = $60,500 / 4,400 = $13.75
Materials price variance = AQ (AP - SP) = 4,400 ($13.75 - $14.40) = $2,860 F
-In October,5,000 meters of raw material were purchased at an actual cost of $4.50 per meter.During October,4,850 meters of the raw material were used to produce 2,400 units of the completed product.Standards call for 2 meters of the raw material for each unit of the completed product.The standard price of the raw material is $4.70 per meter.The materials variances for October were:

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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