Company X has a price standard of $2 per lbs.

5,000 lbs was bought at $2.20 per lbs.

The actual quantity used was 5,000 lbs, although the standard quantity for output was 4,500 lbs

What is Company X's material price variance?

This is my answer

(2.00-2.20) X 5000 = $1,000 U

please advise if incorrect

Fourmula

(SP-AP) X AQ
(2-2.20) X 4500 = (900)

The thread is a year old so I don't think OP cares anymore.

OP's answer was correct to begin with. Yours is incorrect because 4500 isn't the actual quantity - 5000 is.