Asked by
Morgan O'Dell
on Oct 10, 2024
Verified
What is the materials price variance for the month?
A) $480 F
B) $430 F
C) $430 U
D) $480 U
Materials Price Variance
The difference between the actual cost of materials purchased and the standard cost, multiplied by the quantity of materials purchased.
- Familiarize yourself with the method of calculating variance in materials pricing.
- Uncover the distinguishing factors of favorable (F) versus unfavorable (U) variances.
Verified Answer
LR
Learning Objectives
- Familiarize yourself with the method of calculating variance in materials pricing.
- Uncover the distinguishing factors of favorable (F) versus unfavorable (U) variances.