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the following materials standards have been established for a particular product: standard quantity per unit of output 5.3 meters standard price $17.20 per meter the following data pertain to operations concerning the product for the last month: actual materials purchased 8,100 meters actual cost of materials purchased $141,345 actual materials used in production 7,600 meters actual output 1,400 units what is the materials price variance for the month? multiple choice $3,141 u
the following materials standards have been established for a particular product: standard quantity per unit of output 5.3 meters standard price $17.20 per meter the following data pertain to operations concerning the product for the last month: actual materials purchased 8,100 meters actual cost of materials purchased $141,345 actual materials used in production 7,600 meters actual output 1,400 units what is the materials price variance for the month? multiple choice $3,141 u
Thematerialspricevariancefor the month is $2025favorable.Thecorrectoption is (b).As per the data available :Actual materialspurchased8,100 metersActual cost of materials purchased $141,345Actualmaterialsused in production 7,600 metersActual output 1,400 unitsThe material pricevarianceis computed by taking a difference between the actual price - standard price and multiply with actual quantity.The actual price is not given. So, we need to calculate the actual price by using theformulawhich is shown below:Actual cost of material purchased ÷Actualmaterials purchased$141,345 ÷ 8,100 meters= $17.45 per metersNow, we can easily calculate. Theequationis shown below:= (Actual Price -Standard Price) × Actual Quantity= ($17.45 - $17.20) × 8,100= $2025Thecorrectoption is (b).Learn more aboutVarianceat:brainly.com/question/14116780#SPJ4The given question is incomplete, complete question is:The following materials standards have been established for a particular product: standard quantity per unit of output 5.3 meters standard price $17.20 per meter the following data pertain to operations concerning the product for the last month: actual materials purchased 8,100 meters actual cost of materials purchased $141,345 actual materials used in production 7,600 meters actual output 1,400 units what is the materials price variance for the month?(a) $8,600 U(b)$2,025 U(c) $8,725 U(d)$3,141 U...