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Alpha Company manufactures and sells Product P. The actual results for the first week in...

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Accounting

Alpha Company manufactures and sells Product P. The actual results for the first week in January are as follows:
Line Item Description Units and Cost
Actual production 25,000 units of Product P
Actual quantity and cost of raw material Q 95,500 pounds at $0.85
Actual cost of labor 500 hours at $6.75
Standard quantity of raw material 3.00 pounds per unit of Product P
Standard price of raw material Q $0.77
Calculate the material price variance for Product P for the first week in January.
a. $7,640 U
b. $15,785 F
c. $15,785 U
d. $7,640 F

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