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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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The following information applies to Buljok Full Shirt Mfg. Co.
Standard Data Per unit
Material - 3 pieces at Php2 per piece Php 6
Labor - 2 hours at Php3 per hour Php 6
Actual Data:
Material - 25, 000 pleces of material were purchased at Php 2.10 per piece. 24,000
pieces of material were used.
Labor - 17,000 hours at Php2.50 per hour
Determine the material price variance.
O Php2.500 (Favourable)
O Php2400 (Unfavourable)
O Php2400 (Favourable)
CO Php2.500 (Unifavourable)

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