Final answer:
The materials quantity variance can be calculated using the formula: Materials Quantity Variance = (Actual Quantity Used - Standard Quantity Allowed) x Standard Price. Given the specific values provided, the materials quantity variance in this scenario is $600.
Step-by-step explanation:
The materials quantity variance can be calculated using the formula:
Materials Quantity Variance = (Actual Quantity Used - Standard Quantity Allowed) x Standard Price
Given that the actual quantity used is 5,200 pounds, the standard quantity allowed is 5,000 pounds, and the standard price is $3.00 per pound, we can substitute these values into the formula:
Materials Quantity Variance = (5,200 - 5,000) x $3.00
Materials Quantity Variance = 200 x $3.00 = $600
Therefore, the materials quantity variance is $600.