Answered step by step
Verified Expert Solution
Question
1 Approved Answer
7 of uestion Luma Inc. has provided the following data concerning one of the products in its standard cost system. Inputs Direct materials Standard Quantity
7 of uestion Luma Inc. has provided the following data concerning one of the products in its standard cost system. Inputs Direct materials Standard Quantity or Hours per Unit of Output 4.8 ounces Rate $6.90 per ounce The company has reported the following actual results for the product for September: Actual output Raw materials purchased Actual price of raw materials Actual cost of raw materials purchased Select one: Standard Price or A. $9,081 F B. $9,450 U C. $9,081 U D. $9,450 F Raw materials used in production 10,090ounces The raw materials price variance for the month is closest to: (Round your intermediate calculations to 2 decimal places.) 2,100units 10,500ounces $ 7.80per ounce $ 81,900
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started