Kolton using a single raw material in its production process. The material has a standard price of 10 per Pound. During November the company purchased and used 15,000 pounds of material. The actual price paid for this material was $9.90 per pound. The standard quantity required per finished product is 8 pounds. Kolton produced 1.900 finished units of the final product' in November. How much was the material price variance for November? Which of the following is not a 'product cost' under absorption costing? Which of the following is not a feature of a contribution income statement? The contribution margin is disclosed. Variable selling expenses are not subtracted in calculating contribution margin. Arbitrary cost allocations are disregarded. Fixed costs for a segment are divided into controllable and uncontrollable amounts. None of these. Vaswani Company provides the following information for their first year of operations: Sales. 5.000 units @ $10 each; total production, 7,500 units Selling and administrative costs: Fixed, $1,000; Variable, $1 per unit Production costs per unit: Direct materials, $2; Direct labor, $2; Variable overhead. $1 Fixed manufacturing overhead, $7,500 If Vaswani uses direct costing, how much is the contribution margin