Joiner Corporation recently purchased 25,000 gallons of direct material at $5.60 per gallon. Usage by the end of the period amounted to 23,000 gallons. If the standard cost is $6.00 per gallon and the company believes computing variances at the earliest point possible, the direct-material price variance would be calculated as: Multiple Choice O $800 F. $9,200 U. $9,200 F. $10,000 F $10,000 U.

Joiner Corporation recently purchased 25,000 gallons of direct material at $5.60 per gallon. Usage by the end of the period amounted to 23,000 gallons. If the standard cost is $6.00 per gallon and the company believes computing variances at the earliest point possible, the direct-material price variance would be calculated as: Multiple Choice O $800 F. $9,200 U. $9,200 F. $10,000 F $10,000 U.

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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