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"Gumbo" was added to ABC Company's product line a year ago. Standard and actual materials usage and costs are as follows: Standard Actual (500 units) Price $4.50/kg S8, 400 Quantity 3.0 kg/unit 2, 400 kg The materials price variance for Gumbo is: Question 10Answer a. $2,400 favourable b. $9,300 unfavourable c. $9,300 favourable d. $2,400 unfavourable

"Gumbo" was added to ABC Company's product line a year ago. Standard and actual materials usage and costs are as follows: Standard Actual (500 units) Price $4.50/kg S8, 400 Quantity 3.0 kg/unit 2, 400 kg The materials price variance for Gumbo is: Question 10Answer a. $2,400 favourable b. $9,300 unfavourable c. $9,300 favourable d. $2,400 unfavourable

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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"Gumbo" was added to ABC Company's product line a year ago. Standard and actual materials usage and costs are as follows: Standard Actual (500 units) Price $4.50/kg S8, 400 Quantity 3.0 kg/unit 2, 400 kg The materials price variance for Gumbo is: Question 10Answer a. $2,400 favourable b. $9,300 unfavourable c. $9,300 favourable d. $2,400 unfavourable
Transcribed Image Text:"Gumbo" was added to ABC Company's product line a year ago. Standard and actual materials usage and costs are as follows: Standard Actual (500 units) Price $4.50/kg S8, 400 Quantity 3.0 kg/unit 2, 400 kg The materials price variance for Gumbo is: Question 10Answer a. $2,400 favourable b. $9,300 unfavourable c. $9,300 favourable d. $2,400 unfavourable
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