Exhibit 19-1 The following information relates to Almira's operations for the month of August:

-Refer to Exhibit 19-1. Given the information above, the materials price variance is:

Question

Exhibit 19-1 The following information relates to Almira's operations for the month of August:
 
-Refer to Exhibit 19-1. Given the information above, the materials price variance is:

Quizplus · Accepted Answer

The materials price variance is calculated as Actual Cost - Standard Cost. In this case, the actual cost of materials is $462,000 and the standard cost is $450,400 ($4 per pound x 112,600 pounds). Therefore, the materials price variance is $11,600 unfavorable.

Exhibit 19-1 the Following Information Relates to Almira's Operations for the Month