8. Company S purchased 1,000 units raw materials amounting to $5,000 and used $4,500 worth for the production during the current month. The standard price for these raw materials is $5.2 per unit. How much is the materials price variance for the current month if Company S analyzes the variance at the point of purchase? $200 favorable $200 unfavorable $700 favorable $700 unfavorable

8. Company S purchased 1,000 units raw materials amounting to $5,000 and used $4,500 worth for the production during the current month. The standard price for these raw materials is $5.2 per unit. How much is the materials price variance for the current month if Company S analyzes the variance at the point of purchase? $200 favorable $200 unfavorable $700 favorable $700 unfavorable

Name: 8. Company S purchased 1,000 units raw materials amounting to $5,000
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Description: 8. Company S purchased 1,000 units raw materials amounting to $5,000 and used $4,500 worth for the production during the current month. Thestandard price for these raw materials is $5.2 per unit. How much is the materials price variance for the curr

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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All Vaughin Manufacturing produces a product requiring 4 pounds of material costing $3.50 per pound . During December All Vaughn purchased 5500 pounds of material for \$18480 and used the material to produce 500 products . What was the materials price variance for December ? $875 Favorable $5355 Unfavorable $ 770 Favorable $4480 unfavorable
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