Question: Show calculation for this question Exeter has a material standard of 1 pound per unit of output. Each pound has a standard price of $26

Show calculation for this question

Exeter has a material standard of 1 pound per unit of output. Each pound has a standard price of $26 per pound. During July, Exeter paid $66,100 for 2,475 pounds, which they used to produce 2,350 units. What is the direct materials price variance?

$6,300 unfavorable

$1,750 unfavorable

$1,300 favorable

$5,000 unfavorable

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