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Question 11 --/1 View Policies Current Attempt in Progress A company developed the following per-unit standards for its product: 2 gallons of direct materials at $8 per gallon. Last month, 1000 gallons of direct materials were purchased for $7600. The direct materials price variance for last month was O $7600 favorable. O $400 favorable. O $200 favorable. $400 unfavorable. hp ins prt s fl VAA f10 f9 f6 10 f7 4+ f5 %D 8. 7 PI Y /1 00 CO

Question 11 --/1 View Policies Current Attempt in Progress A company developed the following per-unit standards for its product: 2 gallons of direct materials at $8 per gallon. Last month, 1000 gallons of direct materials were purchased for $7600. The direct materials price variance for last month was O $7600 favorable. O $400 favorable. O $200 favorable. $400 unfavorable. hp ins prt s fl VAA f10 f9 f6 10 f7 4+ f5 %D 8. 7 PI Y /1 00 CO

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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Question 11 --/1 View Policies Current Attempt in Progress A company developed the following per-unit standards for its product: 2 gallons of direct materials at $8 per gallon. Last month, 1000 gallons of direct materials were purchased for $7600. The direct materials price variance for last month was O $7600 favorable. O $400 favorable. O $200 favorable. $400 unfavorable. hp ins prt s fl VAA f10 f9 f6 10 f7 4+ f5 %D 8. 7 PI Y /1 00 CO
Transcribed Image Text:Question 11 --/1 View Policies Current Attempt in Progress A company developed the following per-unit standards for its product: 2 gallons of direct materials at $8 per gallon. Last month, 1000 gallons of direct materials were purchased for $7600. The direct materials price variance for last month was O $7600 favorable. O $400 favorable. O $200 favorable. $400 unfavorable. hp ins prt s fl VAA f10 f9 f6 10 f7 4+ f5 %D 8. 7 PI Y /1 00 CO
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