Lilac Corporation uses standard costing. The following data are available for April:ehcienc Actual quantity of direct materials purchased and used Standard price of direct materials Actual purchase price of direct materials Materials price variance Materials spending variance 12,200 gallons $4.00 per gallon $4.25 per gallon $3,050 unfavorable $2,000 unfavorable 6 The standard quantity of material allowed for April production is: 11,482.35 gallons B. 51,850.00 gallons 11.700.00 gallons 12,462.50 gallons E None of the above A. Act att Addatt Statt X st Priu Act Pnce St Prce -12,4462 $4.00 49, 850 12, a00 X4,25 12, 200 4.00 51850 3/o50 u 1,050 F Trice var rtt var 2,000 pnding var

Lilac Corporation uses standard costing. The following data are available for April:ehcienc Actual quantity of direct materials purchased and used Standard price of direct materials Actual purchase price of direct materials Materials price variance Materials spending variance 12,200 gallons $4.00 per gallon $4.25 per gallon $3,050 unfavorable $2,000 unfavorable 6 The standard quantity of material allowed for April production is: 11,482.35 gallons B. 51,850.00 gallons 11.700.00 gallons 12,462.50 gallons E None of the above A. Act att Addatt Statt X st Priu Act Pnce St Prce -12,4462 $4.00 49, 850 12, a00 X4,25 12, 200 4.00 51850 3/o50 u 1,050 F Trice var rtt var 2,000 pnding var

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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