Crockett Co. is a manufacturing company. The standard price for Shell Cordovan, the raw material, is S500 per sheet. One unit of their product normally requires 0.4 sheet.
Crockett purchased 112 sheets, but only used 106 of them in December. The 112 sheets of Shell Cordovan cost Crockett a total of $54,768. What is the price variance of the direct material for the company in December? 1232 Favorable 0 1768 Unfavorable 1232 Unfavorable O 1768 Favorable