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Estimate what is the direct materials price variance

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Reference no: EM132612109

The following information is available for Munter Manufacturing Company.

Direct materials price standard is $3.25 per pound.

Direct materials quantity standard is six pounds per finished unit.

Budgeted production is 25,000 finished units.

175,000 pounds of direct materials were purchased for $525,000.

175,000 pounds of direct materials were used in production.

25,600 finished units of product were produced.

Problem 1: What is the direct materials price variance?

Group of answer choices

Option 1: $43,750 Unfavorable

Option 2: $43,750 Favorable

Option 3: $350,000 Unfavorable

Option 4: $350,000 Favorable

Reference no: EM132612109

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