Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following materials standards have been establ

The following materials standards have been established for a particular product: ...

50.1K

Verified Solution

Question

Accounting

The following materials standards have been established for a particular product:

Standard quantity per unit of output 4.5 meters
Standard price $ 17.60 per meter

The following data pertain to operations concerning the product for the last month:

Actual materials purchased 7,000 meters
Actual cost of materials purchased $ 126,350
Actual materials used in production 6,600 meters
Actual output 1,440 units

What is the materials price variance for the month?

Multiple Choice

$8,710 U

$7,400 U

$2,166 U

$3,150 U

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Fill in the blanks.If x is any nonzero real number, then x=If x is any...

Algebra
Q

In a packing plant, one of the machines packs jars into a box. A sales rep...

Statistics
Q

Tyson Iron Works is about to go public. It currently has aftertax earnings of $5,300,000, and...

Finance
Q

9 Why did we use strawberries as the source to extract DNA in lab a...

Biology
Q

A conducting loop of side L and resistance R moves in its plane with a...

Physics
Q

4 A manufacturer is designing a new container for their chocolate covered almonds Their original...

Geometry
Q

Let 2 3 and 6 5 k Find k so that a and b will...

Basic Math
Q

A rectangular parking lot has a length that is 6 yards greater than the width....

Basic Math
Q

could...

Accounting
Q

Jim's annual salary is $40,000. What is Jim's weekly gross pay? ...

Accounting
Q

You have decided that you need some life insurance protection. You prefer permanent protection but,...

Finance
Q

John, in the past had not qualified to purchase a RRSP. John purchased this year,...

Accounting