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Information about direct materials cost follows for Jennings Chemicals: Standard price per gallon $ 56 Actual quantity used 4,820 gallons Standard quantity allowed for production
Information about direct materials cost follows for Jennings Chemicals:
| Standard price per gallon | $ 56 | |
|---|---|---|
| Actual quantity used | 4,820 | gallons |
| Standard quantity allowed for production | 4,850 | gallons |
| Price variance | $ 26,028 | U |
Required:
What was the actual purchase price per gallon?
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Auditing And Assurance Services
Authors: Alvin Arens, Randal J. Elder
14th Global Edition
0273755013, 978-0273755012
