Question
ABC, Inc., manufactures a single product. The standard cost sheet for this product reflects the following: Direct material 7 per unit Standard material cost $0.73
ABC, Inc., manufactures a single product. The standard cost sheet for this product reflects the following:
| Direct material | 7 per unit |
| Standard material cost | $0.73 per ounce of material |
In the last quarter, the company manufactured 3,713 units of this product. Below is information related to the preparation of these 3713 units:
| Total materials used in manufacturing | 28590.1 ounces |
| Actual material cost | $0.58 per hour |
REQUIRED: Determine the variation in PRICE of materials. If the variation is favorable the response must be positive (example 100) and if it is unfavorable the response must be negative (example -100). YOU MAY USE TWO DECIMALS IN YOUR ANSWER.
Answer:
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Client Importance And Audit Quality In Highly Connected Jurisdictions
Authors: Kelly G. Yuen
1st Edition
3330350520, 978-3330350526
