The Wright 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 $2 per pound $6,000 unfavorable Material quantity variance $3,000 favorable The actual price per pound of direct materials purchased in September is: A. $2.12 B. $2.10 C. $1.88 D. $2.00

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 9EB: Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured...
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The Wright 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
$2
per pound
$6,000 unfavorable
Material quantity variance
$3,000 favorable
The actual price per pound of direct materials purchased in September
is:
A. $2.12
B. $2.10
C. $1.88
D. $2.00
Transcribed Image Text:The Wright 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 $2 per pound $6,000 unfavorable Material quantity variance $3,000 favorable The actual price per pound of direct materials purchased in September is: A. $2.12 B. $2.10 C. $1.88 D. $2.00
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