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Sugar Cereal Corporation uses a standard cost system to collect costs related to the production...

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Accounting

Sugar Cereal Corporation uses a standard cost system to collect costs related to the production of its crunchy green bean cereal. The pickle (materials) standards for each batch of cereal produced are 1.5 pounds of pickles at a standard cost of $3.00 per pound. During the month of August, Magno purchased 77,000 pounds of materials at a total cost of $253,500. Magno used all of these pickles to produce 55,000 batches of cereal. What is Magno's materials price variance for the month of August?

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