Secure | https:/newconnect.mheducation.com/flow/connect.html n 3 Chapters 10-13

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Secure | https:/newconnect.mheducation.com/flow/connect.html n 3 Chapters 10-13 Saved The following materials standards have been established for a particular product 12 Standard quantity per unit of output Standard price 5.1 meters $ 17.90 per meter ts 010712 The following data pertain to operations concerning the product for the last month Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 7,700 meters $142,450 7,300 meters 1,400 units What is the materials price variance for the month? Multiple Choice $8,100 U

Explanation / Answer

Answer is $4620 Unfav

Direct Material Price Variance = (Standard Rate - Actual Rate) x Actual Quantity Purchased                                                              = ( 17.90 - 18.50) x 7700                                                              = 4620 Unfav

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