The standard price of materials is $4.6 per pound and the standard quantity allowed for actual output is 5230 pounds. If the actual quantity purchased and used was 5700 pounds, and the actual price per pound was $5.9, the direct materials price variance is Indicate whether the variance is F (favorable) or U (Unfavorable) by placing the letter next to the amount. For example, if your answer is 1,000 Favorable, answer 1000F, Do not use a space between the amount and the letter. Show your answer as an absolute number (no negative signs)

The standard price of materials is $4.6 per pound and the standard quantity allowed for actual output is 5230 pounds. If the actual quantity purchased and used was 5700 pounds, and the actual price per pound was $5.9, the direct materials price variance is Indicate whether the variance is F (favorable) or U (Unfavorable) by placing the letter next to the amount. For example, if your answer is 1,000 Favorable, answer 1000F, Do not use a space between the amount and the letter. Show your answer as an absolute number (no negative signs)

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Description: QUESTION 7The standard price of materials is $4.6 per pound and the standard quantity allowed for actual output is 5230 pounds. If theactual quantity purchased and used was 5700 pounds, and the actual price per pound was $5.9, the direct materials p

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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