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Sheffield Gold manufactures award medals. In August, Sheffield produced 6,500 medals, 300 more than expected....

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Accounting

Sheffield Gold manufactures award medals. In August, Sheffield produced 6,500 medals, 300 more than expected. During the month, the company purchased 1,100 ounces of gold for $775,400. The standard price for the gold is $700 per ounce. The company actually used 1,000 ounces of gold for production. Calculate Sheffield's direct materials price variance for the month. (If variance is zero, select "Not Applicable" and enter O for the amounts.) Direct material price variance 5390 Unfavorable

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