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hoemaker Perkins Company uses a standard cost system and had 590 pounds of raw material...

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Accounting

hoemaker Perkins Company uses a standard cost system and had 590 pounds of raw material X15 on hand on September 1. The standard cost of X15 is $20 per pound. The production standard calls for 2 pounds of material X15 for each unit of product manufactured. The company manufactured 790 units of the product in September, and had 880 pounds of material X-15 in stock on September 30. The actual price for material X-15 purchased during the month was $1 per pound below the standard cost. The material usage variance in September was $4,900 unfavorable. What is the purchase-price variance for material X in September, rounded to the nearest dollar?

Multiple Choice

  • $1,235 favorable.

  • $1,580 favorable.

  • $1,870 favorable.

  • $1,825 favorable.

  • $2,115 favorable.

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