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Casivant Corporation makes a product that uses a material with the following direct material standards: Standard quantity Standard price The company produced 7,300 units in November using 28,710 pounds of the material. During the month, the company purchased 30,800 pounds of the direct material at a total cost of $117,040. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for November is: Multiple Choice $5,548 U $6,160 U $6,160 F 3.8 pounds per unit $4.00 per pound $5,548 F

Casivant Corporation makes a product that uses a material with the following direct material standards: Standard quantity Standard price The company produced 7,300 units in November using 28,710 pounds of the material. During the month, the company purchased 30,800 pounds of the direct material at a total cost of $117,040. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for November is: Multiple Choice $5,548 U $6,160 U $6,160 F 3.8 pounds per unit $4.00 per pound $5,548 F

FINANCIAL ACCOUNTING
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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Casivant Corporation makes a product that uses a material with the following direct material standards: Standard quantity Standard price The company produced 7,300 units in November using 28,710 pounds of the material. During the month, the company purchased 30,800 pounds of the direct material at a total cost of $117,040. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for November is: Multiple Choice $5,548 U $6,160 U $6,160 F 3.8 pounds per unit $4.00 per pound $5,548 F
Transcribed Image Text:Casivant Corporation makes a product that uses a material with the following direct material standards: Standard quantity Standard price The company produced 7,300 units in November using 28,710 pounds of the material. During the month, the company purchased 30,800 pounds of the direct material at a total cost of $117,040. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for November is: Multiple Choice $5,548 U $6,160 U $6,160 F 3.8 pounds per unit $4.00 per pound $5,548 F
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