The following data relate to product no. 89 of Des Moines Corporation: Direct material standard: 3 square feet at $2.50 per square foot
Direct material purchased: 30,000 square feet at $2.60 per square foot
Direct material consumed: 29,200 square feet
Manufacturing activity: 9,600 units completed
Assume that the company computes variances at the earliest point in time.
The direct-material purchase price variance is:.
i. $2,880U.
ii. $2,920F.
iii. $2,920U.
iv. $3,000F.
v. $3,000U.