Lemke Industries purchased and consumed 80,000 gallons of direct material that was used in the production of 21,000 finished units of product. According to engineering specifications, each finished unit had a manufacturing standard of four gallons. If the material price varlance is $8,000 and the material quantity variance is $2,400F, what is the actual price paid for a gallon of direct material? Multiple Choice $0.60 $0.40 $0.70 None of the answers is correct Not enough information to judge

Lemke Industries purchased and consumed 80,000 gallons of direct material that was used in the production of 21,000 finished units of product. According to engineering specifications, each finished unit had a manufacturing standard of four gallons. If the material price varlance is $8,000 and the material quantity variance is $2,400F, what is the actual price paid for a gallon of direct material? Multiple Choice $0.60 $0.40 $0.70 None of the answers is correct Not enough information to judge

Name: Lemke Industries purchased and consumed 80,000 gallons of direct mate
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Description: Lemke Industries purchased and consumed 80,000 gallons of direct material that was used in the production of 21,000 finished units of product.According to engineering specifications, each finished unit had a manufacturing standard of four gallons. I

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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( Not applicable, favorable, unfavorable )
None
What is the answer for number 23?
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