Education Products Company gathered the following information for Job #155:
Standard Total Cost Actual Total Cost
Direct materials:
Standard: 1,000 pints at $5/pint $5,000
Actual: 1,160 pints at $6/pint $6,960
Direct labor:
Standard: 500 hours at $7.50/hr $3,750
Actual: 480 hours at $7.25/hr. $3,480
What is the direct materials price variance?
A) $1,960 favorable B) $800 unfavorable
C) $960 favorable D) $1,160 unfavorable
D
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