Answered: A company purchased 6,850 kgs of…

A company purchased 6,850 kgs of material at a total cost of $21,920. The material price variance was $1,370 favourable. What was the standard price per kg? A $0.20 B $3.00 C $3.20 D $3.40

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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Question

A company purchased 6,850 kgs of material at a total cost of $21,920. The material price variance was

$1,370 favourable. What was the standard price per kg?

A $0.20

B $3.00

C $3.20

D $3.40

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