Question
Bali company has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased 10,000 pounds Standard price of
Bali company has a standard costing system. The following data are available for June:
| Actual quantity of direct materials purchased | 10,000 | pounds |
| Standard price of direct materials | $ 2.50 | per pound |
| Material price variance | $ 3,000 | favorable |
| Material quantity variance | $ 1,000 | favorable |
The actual price per pound of direct materials purchased in February is
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Auditing The Art and Science of Assurance Engagements
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones
13th Canadian edition
133405508, 978-0133405507
