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Ingredient A 1 2 H is a material used to make Calvin Corporation's major product. The standard cost of Ingredient A 1 2 H is
Ingredient is a material used to make Calvin Corporation's major product. The standard cost of Ingredient is $ per ounce and the standard quantity is ounces per unit of output. Data concerning the compound for October appear below:
tableCost of material purchased in October,$ per ounceMaterial purchased in October, ouncesMaterial used in production in October, ouncesActual output in October, units
The material was purchased on account and Calvin Corporation uses a standard costing system.
The Materials Price Variance for October would be recorded as a:
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