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Tipper Co. makes organic fertilizer sold in one pound bags for the chef/gardener market. The standard material is 23 ounces per bag of assorted meal at a cost of $ 0.69 per ounce. Tipper Co. budgeted to make 65,000 bags but due to high demand, they ended up making 66,000 bags. They paid $42,000 for 60,000 ounces of meal and used all in production during the period. What is their material cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Enter as a whole number, no commas and no dollar signs.

Tipper Co. makes organic fertilizer sold in one pound bags for the chef/gardener market. The standard material is 23 ounces per bag of assorted meal at a cost of $ 0.69 per ounce. Tipper Co. budgeted to make 65,000 bags but due to high demand, they ended up making 66,000 bags. They paid $42,000 for 60,000 ounces of meal and used all in production during the period. What is their material cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Enter as a whole number, no commas and no dollar signs.

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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am. 101.

Tipper Co. makes organic fertilizer sold in one pound bags for the chef/gardener market. The standard material is 23 ounces per bag of assorted meal at a cost of $ 0.69 per ounce. Tipper Co. budgeted to make 65,000 bags but due to high demand, they ended up making 66,000 bags. They paid $42,000 for 60,000 ounces of meal and used all in production during the period. What is their material cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Enter as a whole number, no commas and no dollar signs.
Transcribed Image Text:Tipper Co. makes organic fertilizer sold in one pound bags for the chef/gardener market. The standard material is 23 ounces per bag of assorted meal at a cost of $ 0.69 per ounce. Tipper Co. budgeted to make 65,000 bags but due to high demand, they ended up making 66,000 bags. They paid $42,000 for 60,000 ounces of meal and used all in production during the period. What is their material cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Enter as a whole number, no commas and no dollar signs.
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