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Kermit Enterprises has collected the following data on one of its products:
Direct materials standard(4lbs.@$1lb.): $4 per finished unit
Total Direct Materials Cost Variance-Favorable: $7,500
Actual direct materials used: 150,000 lbs.
Actual finished units produced: 30,000 units
The direct materials price variance is:
A. $30,000 favorable.
B. $30,000 unfavorable.
C. $22,500 favorable.
D. $37,500 unfavorable.
E. $37,500 favorable.
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