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The formula to compute direct materials price variance is to calculate the difference between a. actual costs - (actual quantity * standard price) b. actual cost + standard costs c. actual cost - standard costs d. (actual quantity * standard price) -standard costs ANS: A DIF: Moderate OBJ: 23-03 NAT: AACSB Analytic | IMA-Performance Measurement 51.
If the unfavorable $2,000 variance is the result of an unrealistic standard for the quantity of direct materials needed, then we should allocate the $2,000 variance to wherever the standard costs of direct materials are physically located.