Chapter 16 question 6 Information about direct materials cost follows for Jennings Chemicals: Standard price per gallon $56 Actual quantity used 4,760 Standard quantity allowed for production Price variance Required: What was the actual purchase price per gallon? Note: Round your answer to 2 decimal places. I need this answered asap 4,790 $ 24,752 gallons gallons U

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Chapter 16 question 6
Information about direct materials cost follows for Jennings Chemicals:
Standard price per gallon
$ 56
Actual quantity used
Standard quantity allowed for production
Price variance
Required:
What was the actual purchase price per gallon?
Note: Round your answer to 2 decimal places.
I need this answered asap.
4,760
4,790
$ 24,752
gallons
gallons
U
Transcribed Image Text:Chapter 16 question 6 Information about direct materials cost follows for Jennings Chemicals: Standard price per gallon $ 56 Actual quantity used Standard quantity allowed for production Price variance Required: What was the actual purchase price per gallon? Note: Round your answer to 2 decimal places. I need this answered asap. 4,760 4,790 $ 24,752 gallons gallons U
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