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Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased 60,000 pounds Standard price of
Suver Corporation has a standard costing system. The following data are available for June:
| Actual quantity of direct materials purchased | 60,000 | pounds | |
| Standard price of direct materials | $ | 7.00 | per pound |
| Material price variance | $ | 6,000 | Unfavorable |
| Material quantity variance | $ | 7,000 | Favorable |
The actual price per pound of direct materials purchased in June was:
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Auditing A Practical Manual For Auditors
Authors: Lawrence Robert Dicksee
1st Edition
1360462546, 978-1360462547
