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Concord Corporation manufactures a product that requires two pounds of direct material. During 2022, Concord purchases 21500 pounds of material for $109500 when the standard price per pound is $5. During 2022, Shipp uses 17000 pounds to make 9500 products. The standard direct material cost per unit of finished product is O $10.00. O $12.88. O $10.29. O $10.57.

Concord Corporation manufactures a product that requires two pounds of direct material. During 2022, Concord purchases 21500 pounds of material for $109500 when the standard price per pound is $5. During 2022, Shipp uses 17000 pounds to make 9500 products. The standard direct material cost per unit of finished product is O $10.00. O $12.88. O $10.29. O $10.57.

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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Concord Corporation manufactures a product that requires two pounds of direct material. During 2022, Concord purchases 21500 pounds of material for $109500 when the standard price per pound is $5. During 2022, Shipp uses 17000 pounds to make 9500 products. The standard direct material cost per unit of finished product is O $10.00. O $12.88. O $10.29. O $10.57.
Transcribed Image Text:Concord Corporation manufactures a product that requires two pounds of direct material. During 2022, Concord purchases 21500 pounds of material for $109500 when the standard price per pound is $5. During 2022, Shipp uses 17000 pounds to make 9500 products. The standard direct material cost per unit of finished product is O $10.00. O $12.88. O $10.29. O $10.57.
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