TB MC Qu. 10-60 Gipple Corporation makes a product that uses ... Gipple Corporation makes a product that uses a material with the quantity standard of 8.8 grams per unit of output and the price standard of $7.50 per gram. In January the company produced 4,900 units using 26,370 grams of the direct material. During the month the company purchased 28,900 grams of the direct material at $7.70 per gram. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for January is:

TB MC Qu. 10-60 Gipple Corporation makes a product that uses ... Gipple Corporation makes a product that uses a material with the quantity standard of 8.8 grams per unit of output and the price standard of $7.50 per gram. In January the company produced 4,900 units using 26,370 grams of the direct material. During the month the company purchased 28,900 grams of the direct material at $7.70 per gram. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for January is:

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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