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What is the direct materials price variance

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Reference no: EM132877475

Problem 1: The standard materials cost to produce 1 unit of Product R is 8 pounds of material at a standard price of $60 per pound. In manufacturing 6,300 units, 47,900 pounds of material were used at a cost of $62 per pound. What is the direct materials price variance?

Multiple Choice

Option 1: $95,800 unfavorable.
Option 2: $95,800 favorable.
Option 3: $150,000 unfavorable.
Option 4: $150,000 favorable.
Option 5: $54,200 favorable.

Reference no: EM132877475

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