Question: 112 113 Problem 5 (6 points each = 12 points). Direct material Price Variance is (AQ AP) - (AQSP) or (AP-SP)AQ. A company developed the

112 113 Problem 5 (6 points each = 12 points). Direct material Price Variance is (AQ AP) - (AQSP) or (AP-SP)AQ. A company developed the following per-unit standard for its product: direct materials at $6 per pound. Last month, 2,000 pounds of direct materials were actually purchased for $11,400 Calculate the direct materials price variance for last month. Please show work 114 115 116 117 118

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