Materials price variance for the month, Accounting Basics

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Materials price variance for the month

Standard quantity per unit of output..... 6.8 meters
Standard price......... $14.40

The following data pertains to operations concerning theproduct for the last month:

Actual material purchased...... 4,400 meters
Actual cost of material purchased.... $60,500
Actual material used in production ... 3,800 meters
Actual output... 400 units

What is the materials price variance for the month?

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Accounting Basics: Materials price variance for the month

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Accounting Basics: Materials price variance for the month

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Recent Questions Asked Accounting Basics

Q : Create supporting schedule that accompany the cash flows

Q : Direct method and overhead rates

Q : Determine a cost function for wacky

Q : Determine when cash is collected from customers

Q : Materials price variance for the month

Q : What is labor efficiency variance for the month

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Materials price variance for the month

Reference No:- TGS0554731

Recent Questions Asked Accounting Basics

Q : Create supporting schedule that accompany the cash flows

Q : Direct method and overhead rates

Q : Determine a cost function for wacky

Q : Determine when cash is collected from customers

Q : Materials price variance for the month

Q : What is labor efficiency variance for the month

Q : Calculate the payback period

Q : Number of times bond interest

Q : Compute percentage change when possible

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