The Ryan Company has a standard costing system. The following data are available for September: Actual quantity of direct materials purchased 60,000 pounds Standard price of direct materials Material price variance Material quantity variance $2 per pound $6,000 unfavorable $3,000 favorable The actual price per pound of direct materials purchased in September is:

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
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Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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Chapter10: Standard Costing And Variance Analysis
Section: Chapter Questions
Problem 58E: At the beginning of the year, Lopez Company had the following standard cost sheet for one of its...
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The Ryan Company has a standard costing system. The following data
are available for September:
Actual quantity of direct materials purchased 60,000 pounds
Standard price of direct materials
Material price variance
Material quantity variance
$2 per pound
$6,000 unfavorable
$3,000 favorable
The actual price per pound of direct materials purchased in September
is:
Transcribed Image Text:The Ryan Company has a standard costing system. The following data are available for September: Actual quantity of direct materials purchased 60,000 pounds Standard price of direct materials Material price variance Material quantity variance $2 per pound $6,000 unfavorable $3,000 favorable The actual price per pound of direct materials purchased in September is:
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