Solly Corporation produces a product for national distribution. Standards for the product are:•Materials: 12 ounces per unit at 60¢ per ounce. •Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows:•Materials: 14,000 ounces purchased and used at a total cost of $7,700. •Labor: 2,500 hours worked at a total cost of $20,625. The materials price variance is:
A. $700 U
B. $700 F
C. $600 U
D. $600 F
Answer: B
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