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Find what is the direct materials price variance

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Reference no: EM132973572

Problem 1: The standard materials cost to produce 1 unit of Product R is 6 pounds of material at a standard price of $58 per pound. In manufacturing 6,700 units, 38,000 pounds of material were used at a cost of $60 per pound. What is the direct materials price variance?

Multiple Choice

Option 1: $76,000 unfavorable.
Option 2: $76,000 favorable.
Option 3: $127,600 unfavorable.
Option 4: $127,600 favorable.
Option 5: $51,600 favorable.

Reference no: EM132973572

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