Using the standard costs of $5 per pound for a 10 pound bag of chocolate and the following actual cost and usage data, compute the direct materials price variance. $\begin{array}{lr}
\text { Direct materials purchased and used}&\text {99,000 pounds }\
\text {Price paid for direct materials }&\text { $ \$ 4.00 $ per pound}\
\text {Number of good units prochuced }&\text {9,000 units }\
\end{array}$

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The Answer of Using the standard costs of $5 per pound for a 10 pound bag of chocolate and the following actual cost and usage data, compute the direct materials price variance. $\begin{array}{lr}
\text { Direct materials purchased and used}&\text {99,000 pounds }\
\text {Price paid for direct materials }&\text { $ \$ 4.00 $ per pound}\
\text {Number of good units prochuced }&\text {9,000 units }\
\end{array}$

Using the Standard Costs of $5 Per Pound for a 10