Waterway WaterWorks manufactures snorkel gear. During the past month, Washington purchased 2,800 pounds of plastic to...

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Waterway WaterWorks manufactures snorkel gear. During the past month, Washington purchased 2,800 pounds of plastic to use in its dive masks, at a cost of $5,600. The standard price for the plastic is $1.60 per pound. The company actually used 2,700 pounds of the plastic to produce 12,000 dive masks. Calculate Waterway's direct materials price variance for the month. (Round intermediate calculations to 5 decimal places, e.g. 1.24638 and final answer to O decimal places, e.g. 5,275.) Direct material price variance +A $ Unfavorable Waterway WaterWorks manufactures snorkel gear. During the past month, Washington purchased 2,800 pounds of plastic to use in its dive masks, at a cost of $5,600. The standard price for the plastic is $1.60 per pound. The company actually used 2,700 pounds of the plastic to produce 12,000 dive masks. Calculate Waterway's direct materials price variance for the month. (Round intermediate calculations to 5 decimal places, e.g. 1.24638 and final answer to O decimal places, e.g. 5,275.) Direct material price variance +A $ Unfavorable

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To calculate the direct materials price variance we use the following formula Dire... View the full answer