Oxford company has a material standard of 2.1 pounds per unit of output. Each po
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Oxford company has a material standard of 2.1 pounds per unit of output. Each pound has a standard price of $13 per pound....
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me my.utrgv.edluX Exam ? ezto.mheducation.c CRD?.. ) * st Visited my.utrgv.edu ALGEBRA LoginSearch every onnect Instructons i help KQuestion 27 (of 35) Save & ExtSubmit Time remaining: 1:11:35 Oxford Co. has a material standard of 21 pounds per unit of output Each pound has a standard price of $13 per pound. During February. Oxford Co. paid $57,700 for 4,910 pounds, which were used to produce 2,470 units. What is the direct matenials price variance? Do not round your Intermedlate calculations.) 0 $6,690 favorable O $6130 favorable O $6,130 unfavorable O $6.690 unfavorableExplanation / Answer
Ans. Option 2nd $6130 favorable *Calculation: Direct Material price variance = (Standar price - Actual price) * Actual quantity (Standar price *Actual quantity) - (Actual price *Actual quantity) (13 * 4910) - 57700 6130 Favorable Actual price *Actual quantity = Actual cost = 57700
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