TB MC Qu$.8-46($Static$)$ Global Company makes a product that is$...$

Global Company makes a product that is expected to use $2\mathrm{.}2$ pounds of material per unit of product. The material has a standard cost of $$2$ per pound. Global actually used $2\mathrm{.}3$ pounds of material per unit of product made in January. The actual cost of material was $$1\mathrm{.}95$ per pound. Based on this information alone, the materials variances for the January production would be:

Multiple Choice

Favorable for price and unfavorable for usage.

Unfavorable for price and favorable for usage.

Favorable for price and favorable for usage.

Unfavorable for price and unfavorable for usage.

$9$ of $15$

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