What is the materials price variance for the monthwhat is

The following standards have been established for a raw material used to make product I92:

	Standard quantity of the material per unit of output..	3 pounds
	Standard price of the material.....................................	$4.50 per pound
	Standard hours of labor per unit of output	2 hours
	Standard rate of the labor per hour	$11 per hour

The following data pertain to a recent month's operations:

	Actual material purchased......................	6,800 pounds
	Actual cost of material purchased..........	$31,620
	Actual material used in production........	6,800 pounds
	Actual output.........................................	2,300 units of product I92
	Actual labor used	4,500 hours
	Actual total labor cost	$49,050

Required:

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What is the materials price variance for the monthwhat is : the following standards have been established for a raw material used to make product i92standard quantity of the

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