JIngredient A12H is a material used to make Calvin Corporation's major product. The standard cost of Ingredient A12H is $23.00 per ounce and the standard quantity is 3.8 ounces per unit of output. Data concerning the compound for October appear below: a) debit of $3,680. b) credit of $3,680. c) credit of $4,140. d) debit of $4,140.
JIngredient A12H is a material used to make Calvin Corporation's major product. The standard cost of Ingredient A12H is $23.00 per ounce and the standard quantity is 3.8 ounces per unit of output. Data concerning the compound for October appear below: a) debit of $3,680. b) credit of $3,680. c) credit of $4,140. d) debit of $4,140.
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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JIngredient A12H is a material used to make Calvin Corporation's major product. The
- a)
debit of $3,680.
- b)
credit of $3,680.
- c)
credit of $4,140.
- d)
debit of $4,140.
Transcribed Image Text:Jlngredient A12H is a material used to make Calvin Corporation's major product. The standard cost of Ingredient
A12H is $23.00 per ounce and the standard quantity is 3.8 ounces per unit of output. Data concerning the compound
for October appear below:
Cost of material purchased in October
$23.10 per ounce
Material purchased in October2,
300 ounces
Material used in production in October2,
120 ounces
Actual output in October
600 units
The material was purchased on account and Calvin Corporation uses a standard costing system.
The Material Efficiency Variance for October would be recorded as a:
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