ABC corporation produces plastic bottles. Details of cost are given below: Standard unit quantity per plastic bottle Actual production of bottles Actual quantity used Actual cost of plastic Standard price 0.045 ounce per plastic bottle 240,000 110,000 $0.042 per ounce $0.045 per ounce Material price variance for ABC corporation is: a. $330 Unfavorable b. $720 Favorable c. $330 Favorable d. $720 Unfavorable
ABC corporation produces plastic bottles. Details of cost are given below: Standard unit quantity per plastic bottle Actual production of bottles Actual quantity used Actual cost of plastic Standard price 0.045 ounce per plastic bottle 240,000 110,000 $0.042 per ounce $0.045 per ounce Material price variance for ABC corporation is: a. $330 Unfavorable b. $720 Favorable c. $330 Favorable d. $720 Unfavorable
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![ABC corporation produces plastic bottles. Details of cost are given below:
Standard unit quantity per plastic bottle
Actual production of bottles
Actual quantity used
Actual cost of plastic
Standard price
0.045 ounce per plastic bottle
240,000
110,000
S0.042 per ounce
$0.045 per ounce
Material price variance for ABC corporation is:
a. $330 Unfavorable
b. $720 Favorable
c. $330 Favorable
d. $720 Unfavorable](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a8bd434-09f1-4010-8340-481a150409db%2F64bcbf0c-be3a-4d61-b321-b3442bc638f9%2Flu8hrrb_processed.png&w=3840&q=75)
Transcribed Image Text:ABC corporation produces plastic bottles. Details of cost are given below:
Standard unit quantity per plastic bottle
Actual production of bottles
Actual quantity used
Actual cost of plastic
Standard price
0.045 ounce per plastic bottle
240,000
110,000
S0.042 per ounce
$0.045 per ounce
Material price variance for ABC corporation is:
a. $330 Unfavorable
b. $720 Favorable
c. $330 Favorable
d. $720 Unfavorable
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