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Smucker Company uses a standard cost system for raw material X15. The standard cost is $10 per pound. The standard calls for 2 pounds of
Smucker Company uses a standard cost system for raw material X15. The standard cost is $10 per pound. The standard calls for 2 pounds of material X15 for each unit of the product manufactured. The company manufactured 600 units of the product in September. The actual price for Material X-15 purchased during the month was $1 per pound below the standard cost. The material usage variance in September was $3,000 unfavorable.
(1.5 points) Smucker Company uses a standard cost system for raw material X15. The standard cost is $10 per pound. The standard calls for 2 pounds of material X15 for each unit of the product manufactured. The company manufactured 600 units of the product in September. The actual price for Material X-15 purchased during the month was $1 per pound below the standard cost. The material usage variance in September was $3,000 unfavorable. a. (0.5 point) What is the standard usage for producing 600 units? b. (0.5 point) What is the actual usage of material (in pounds)? 2 c. (0.5 point) What is the purchase-price variance for Material X in SeptemberStep by Step Solution
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