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Ingredient A12H is a material used to make Calvin Corporation's major product. The standard cost of Ingredient A12H is $40.00 per ounce and the standard
Ingredient A12H is a material used to make Calvin Corporation's major product. The standard cost of Ingredient A12H is $40.00 per ounce and the standard quantity is 20.8 ounces per unit of output. Data concerning the compound for October appear below: Cost of material purchased in October Material purchased in October Material used in production in October Actual output in October $40.10 per ounce 3,150 ounces 2,290 ounces 770 units The material was purchased on account and Calvin Corporation uses a standard costing system. The debit to the Materials Inventory account for October would total:
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