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Ingredient A12H is a material used to make Calvin Corporation's major product. The standard cost of Ingredient A12H is $23.00 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 $23.00 per ounce and the standard quantity is 38 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 $23110 per ounce 2,300 ounces 2,120 ounces 600 units The material was purchased on account and Calvin Corporation uses a standard costing system The Material Price Variance for October would be recorded as a
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