Compute the materials price variance

Problem: Zinkyl Corporation produces high-quality leather boots. The company has a standard cost system and has set the following standards for materials and labor:?Leather (10 strips @ $20) $200 Direct labor (10 hours @ $10) $100 Total prime cost $300?During the year, Zinkyl produced 100 boots. Actual leather purchased was 1,500 strips at $12 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 1,000 hours at $10 per hour.? Compute the materials price variance. Question options: a) $12,000 F b) $7,300 U c) $16,800 U d) $6,000 F


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Accounting Basics: Compute the materials price variance
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