Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN: 9781305970663
Author: Don R. Hansen, Maryanne M. Mowen
Publisher: Cengage Learning
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How much is the material price variance ?

Fevicol For All has developed the following material standard to produce
one container of Fevicol-It: 96 ounces of Chemical A at $0.15 per ounce.
Fevicol For All planned to produce 2,000 containers of Fevicol-It during
July. The company purchased 1,500 gallons (192,000 ounces) of Chemical
A at a cost of $0.14 per ounce in July. The company used 1,480 gallons to
produce 1,950 containers of Fevicol-It. How much is the material price
variance?
A) $1,920 favorable
B) $1,894 favorable
C) $336 unfavorable
D) $1,584 unfavorable
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Transcribed Image Text:Fevicol For All has developed the following material standard to produce one container of Fevicol-It: 96 ounces of Chemical A at $0.15 per ounce. Fevicol For All planned to produce 2,000 containers of Fevicol-It during July. The company purchased 1,500 gallons (192,000 ounces) of Chemical A at a cost of $0.14 per ounce in July. The company used 1,480 gallons to produce 1,950 containers of Fevicol-It. How much is the material price variance? A) $1,920 favorable B) $1,894 favorable C) $336 unfavorable D) $1,584 unfavorable
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