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This exercise is focused on calculating price variance based on real and standard costs. The problem provides details on the actual and standard quantities and prices for product X. Let's go through the solution step by step.

### Given Information:
- **Actual Costs**: 
  - Quantity = 21,000 lbs at $10.00 per lb, total cost = $210,000
- **Standard Costs**: 
  - Quantity = 25,000 lbs at $10.15 per lb, total cost = $253,750

### Formula for Price Variance (VP):
\[
\text{VP} = (\text{Standard Price} - \text{Actual Price}) \times \text{Actual Quantity}
\]

### Applying the Formula:
- Standard Price = $10.15
- Actual Price = $10.00
- Actual Quantity = 21,000 lbs

Substitute these values into the formula:
\[
\text{VP} = (10.15 - 10.00) \times 21,000
\]
\[
\text{VP} = 0.15 \times 21,000 = 3,150
\]

Since the standard price is higher than the actual price, this results in a **favorable** variance of **$3,150**.

### Answer:
The correct choice is **D) $3,150 Favorable**.

Would you like further details on how this is calculated or explanations on related concepts?

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Here are 5 related questions to expand on this concept:
1. What is the difference between price variance and quantity variance?
2. How do unfavorable and favorable variances affect a company's financial performance?
3. What other factors can cause a variance besides price changes?
4. How do you calculate total variance when both price and quantity variances are given?
5. Why is variance analysis important in budgeting and cost control?

**Tip:** Always ensure to differentiate between favorable and unfavorable variances, as they indicate positive or negative impacts on costs.

Siendo los costos reales y estándares para producir una cantidad del producto X: Costos reales de 21,000 lbs a $10.00 por lb y costos estándares de 25,000 lbs a $10.15 por lb. ¿Cuál es la variación de precios de estos materiales?

Learn how to calculate the price variance for product X using real and standard costs. The problem involves determining the price variance with quantities and prices provided for actual and standard costs.

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