Bumgardner Incorporated has provided the following data concerning one of the products in its standard cost system. Inputs Direct materials Standard Quantity or Hours per Unit of Output 8.0 liters Standard Price or Rate $5.00 per liter The company has reported the following actual results for the product for April: Actual output Raw materials purchased Actual price of raw materials Raw materials used in production 7,400 units 65,400 liters $ 5.70 per liter 59,210 liters The raw materials price variance for the month is closest to: (Round your intermediate calculations to 2 decimal places.)

Bumgardner Incorporated has provided the following data concerning one of the products in its standard cost system. Inputs Direct materials Standard Quantity or Hours per Unit of Output 8.0 liters Standard Price or Rate $5.00 per liter The company has reported the following actual results for the product for April: Actual output Raw materials purchased Actual price of raw materials Raw materials used in production 7,400 units 65,400 liters $ 5.70 per liter 59,210 liters The raw materials price variance for the month is closest to: (Round your intermediate calculations to 2 decimal places.)

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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