The following materials standards have been established for a particular product: Standard quantity per unit of...

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The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 6.0 meters $19.00 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output What is the materials price variance for the month? 10,200 meters $201,500 9,600 meters 1,580 units The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 6.0 meters $19.00 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output What is the materials price variance for the month? 10,200 meters $201,500 9,600 meters 1,580 units

Answer rating: 100% (QA)

The materials price variance is calculated using the formula Materials Price Variance ... View the full answer