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Estimate the total direct materials cost variance

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Question 1: Fletcher Company collected the following data regarding production of one of its products. Compute the total direct materials cost variance.

Direct materials standard (1 lbs. @ $3/lb.) $3 per finished unit

Actual direct materials used 30,000 lbs.

Actual finished units produced 26,000 units

Actual cost of direct materials used $80,600

Option 1: $12,000 favorable.

Option 2: $2,600 unfavorable.

Option 3: $12,000 unfavorable.

Option 4: $2,600 favorable.

Option 5: $9,400 favorable.

Reference no: EM132527052

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