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naterials at a st sed in June was $13.20 per square foot, and that the direct materials purchase prices ials usage (quantity) variance for June was Choce 10.200 tavoratie 16.320 unteva

naterials at a st sed in June was $13.20 per square foot, and that the direct materials purchase prices ials usage (quantity) variance for June was Choce 10.200 tavoratie 16.320 unteva

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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Ventura uses a just-in-time (IT) manufacturing system for all its materials, components, and products. The master budget of the company for June called for use of 12.900 square feet of materials, while the flexible budget for the actual output of the month had 11,900 square feet of materials at a standard cost (SP) of $13.30 per square foot Company records show that the actual price paid (AP) for the materials used in June was $13.20 per square foot, and that the direct materials purchase price variance for the month was $1,230 The materials usage quantity) variance for June was Multiple Choice $2.200 favore $5.200 evrat $1520 $300 unic
Transcribed Image Text:Ventura uses a just-in-time (IT) manufacturing system for all its materials, components, and products. The master budget of the company for June called for use of 12.900 square feet of materials, while the flexible budget for the actual output of the month had 11,900 square feet of materials at a standard cost (SP) of $13.30 per square foot Company records show that the actual price paid (AP) for the materials used in June was $13.20 per square foot, and that the direct materials purchase price variance for the month was $1,230 The materials usage quantity) variance for June was Multiple Choice $2.200 favore $5.200 evrat $1520 $300 unic
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