Question - RJB Builders makes mouldings. Its standard quantity of material allowed is 1 m of wood per 1 m of moulding at a standard price of $2.00 per metre. During September, RJB Builders purchased 500,000 m of wood at a cost of $1.90 per metre, which produced only 499,000 m of moulding. What was the materials price variance and the materials usage variance, respectively?
$49,900 U and $2,000 F
$49,900 F and $1,900 U
$50,000 F and $1,900 U
$50,000 F and $2,000 U