Kk92. The following materials standards have been established for a particular product:Standard quantity per unit of outputStandard priceThe following data pertain to operations concerning the product for the last month:Actual materials purchasedActual cost of materials purchasedActual materials used in productionActual outputWhat was the materials price variance for the month?Multiple Choice$7,660 unfavourable.$24,317 unfavourable.8.3 grams$19.15 per gram$2,250 favourable.7,500 grams$141,3757,100 grams700 units

Name: Kk92. The following materials standards have been established for a pa
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Description: Kk92. The following materials standards have been established for a particular product:Standard quantity per unit of outputStandard priceThe following data pertain to operations concerning the product for the last month:Actual materials purchasedActu

Material price variance is the difference between the cost estimated for the material and the cost…

Business

Accounting

The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price The following data pertain to operations concerning the product for the last month: Actual materials purchased 7,500 grams $141,375 Actual cost of materials purchased Actual materials used in production Actual output What was the materials price variance for the month? Multiple Choice $7,660 unfavourable. $24,317 unfavourable. 8.3 grams $19.15 per gram $2,250 favourable. 7,100 grams 700 units

The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price The following data pertain to operations concerning the product for the last month: Actual materials purchased 7,500 grams $141,375 Actual cost of materials purchased Actual materials used in production Actual output What was the materials price variance for the month? Multiple Choice $7,660 unfavourable. $24,317 unfavourable. 8.3 grams $19.15 per gram $2,250 favourable. 7,100 grams 700 units

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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