Fitness bands corporation gathered the following information: standard total cost actual total cost direct materials standard: 2,400 pints at $ 3.50/pint $8,400 actual: 2,600 pints at $ 6.00/pint $15,600 what is the direct materials price variance? a. $2,500 unfavorable b. $1,750 unfavorable c. $1,750 favorable d. $2,500 favorable

Nono of the answer is correct.

Explanation:

Giving the following information:

Standard Cost:   2,400 pints at $ 3.50/pint $8,400

Actual: 2,600 pints at $ 6.00/pint $15,600

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (3.5 - 6)*2,600= 6,500 unfavorable

statement of owner's equity;

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know