The following materials standards have been established for a particular product: Standard quantity per unit of output 8.3 grams Standard price $19.15 per gram The following data pertain to operations concerning the product for the last month: Actual materials purchased 7,500 grams Actual cost of materials purchased $141,375 Actual materials used in production 7,100 grams Actual output 700 units What is the materials price variance for the month?

The following materials standards have been established for a particular product: Standard quantity per unit of output 8.3 grams Standard price $19.15 per gram The following data pertain to operations...

The following materials standards have been established for a particular product:

Standard quantity per unit of output	8.3	grams
Standard price	$19.15	per gram

The following data pertain to operations concerning the product for the last month:

Actual materials purchased	7,500	grams
Actual cost of materials purchased	$141,375
Actual materials used in production	7,100	grams
Actual output	700	units

What is the materials price variance for the month?

Jun 01, 2022