Asked by Kevin Nguyen on Jul 16, 2024
Verified
The materials price variance for February is:
A) $3,136 F
B) $3,260 F
C) $3,136 U
D) $3,260 U
Materials Price Variance
The difference between the actual cost of materials used in production and the standard cost of materials that were expected to be used.
February
The second month of the year in the Gregorian calendar, known for having 28 days in common years and 29 days in leap years.
- Achieve proficiency in computing and evaluating variances in the cost of materials.
Verified Answer
MP
Marissa Parus
Jul 17, 2024
Final Answer :
B
Explanation :
Materials price variance = AQ × (AP ? SP)
= 32,600 ounces × ($2.90 per ounce ? $3.00 per ounce)
= 32,600 ounces × (?$0.10 per ounce)
= $3,260 F
= 32,600 ounces × ($2.90 per ounce ? $3.00 per ounce)
= 32,600 ounces × (?$0.10 per ounce)
= $3,260 F
Learning Objectives
- Achieve proficiency in computing and evaluating variances in the cost of materials.