Multiple Choice Question 94 The total materials variance is equal to the O materials price variance. O product of the materials price variance and the materials quantity variance. O difference between the materials price variance and materials quantity variance. O sum of the materials price variance and the materials quantity variance. Multiple Choice Question 104 Sheffield Corp. has a materials price standard of $2.00 per pound. Six thousand pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 6900 pounds, although the standard quantity allowed for the output was 5800 pounds. Sheffield Corp.'s materials quantity variance is O $2200 F. $2200 U $2420 F. $2420 U. Multiple Choice Question 105 Sheffield Corp. has a materials price standard of $2.00 per pound. 4900 pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 4900 pounds, although the standard quantity allowed for the output was 4000 pounds Sheffield Corp.'s total materials variance is $2960 U O $2960 F $2780 U $2780 F. Multiple Choice Question 114 A company developed the following per-unit standards for its product: 2 gallons of direct materials at $8 per gallon. Last month, 5000 gallons of direct materials were purchased for $38000. The direct materials price variance for last month was O$38000 favorable. $2000 unfavorable $1000 favorable. O $2000 favorable