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Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased 20,000 pounds Standard price of
Suver Corporation has a standard costing system. The following data are available for June:
| Actual quantity of direct materials purchased | 20,000 | pounds | |
| Standard price of direct materials | $ | 2.00 | per pound |
| Material price variance | $ | 3,000 | Unfavorable |
| Material quantity variance | $ | 5,200 | Favorable |
The actual price per pound of direct materials purchased in June was:
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Financial Accounting IFRS Principles
Authors: Ilse Lubbe, Goolam Modack, Shelly Herbert
5th Edition
0190746920, 978-0190746926
