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Compound Q11H is a raw material used to make Grater Corporation's major product. The standard cost of compound Q11H is $19.00 per ounce and the
Compound Q11H is a raw material used to make Grater Corporation's major product. The standard cost of compound Q11H is $19.00 per ounce and the standard quantity is 4.0 ounces per unit of output. Data concerning the compound for October appear below: Cost of material purchased in October, per ounce $19.10 Material purchased in October, ounces 1,620 Material used in production in October, ounces 1,530 Actual output in October, units 425 The raw material was purchased on account. The Materials Price Variance for October would be recorded as a:
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