Futon Ltd. is a manufacturing company with the following cost information for one of its products: Standard price per kilogram of direct materials $ 4.67 Actual quantity of direct materials purchased (in kg) 1350 Standard quantity allowed for actual production (in kg) 1950 Material purchase variance (favourable) $ 305.00 What is the actual purchase price per kg? O a) $4.51
Futon Ltd. is a manufacturing company with the following cost information for one of its products: Standard price per kilogram of direct materials $ 4.67 Actual quantity of direct materials purchased (in kg) 1350 Standard quantity allowed for actual production (in kg) 1950 Material purchase variance (favourable) $ 305.00 What is the actual purchase price per kg? O a) $4.51
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
![Futon Ltd. is a manufacturing company with the following cost information for one of
its products:
4.67
Standard price per kilogram of direct materials
1350
Actual quantity of direct materials purchased (in kg)
1950
Standard quantity allowed for actual production (in kg)
$ 305.00
Material purchase variance (favourable)
What is the actual purchase price per kg?
O a) $4.51
O b) $4.44
O c) $4.90
O d) $4.67](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F92754130-b88c-4936-b590-05c5a1ac8c83%2F7f5a5ea7-6834-4c01-944f-2d430917f770%2Fjd8z0kj_processed.png&w=3840&q=75)
Transcribed Image Text:Futon Ltd. is a manufacturing company with the following cost information for one of
its products:
4.67
Standard price per kilogram of direct materials
1350
Actual quantity of direct materials purchased (in kg)
1950
Standard quantity allowed for actual production (in kg)
$ 305.00
Material purchase variance (favourable)
What is the actual purchase price per kg?
O a) $4.51
O b) $4.44
O c) $4.90
O d) $4.67
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