Question
The Elite Corporation uses a standard costing system and has the following data for the month of October 2020. Quantity of material purchased 35,000 Kgs
The Elite Corporation uses a standard costing system and has the following data for the month of October 2020.
| Quantity of material purchased | 35,000 Kgs |
| Standard price of material | $4 per Kg |
| Material price variance | $12,500 unfavorable |
| Material quantity variance | $4,200 favorable |
| Material used | 32,000 Kgs |
What would be the actual price per Kg of direct materials purchased in October?
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Accounting Essentials For Hospitality Managers
Authors: Chris Guilding, Kate Mingjie Ji
4th Edition
1032024321, 9781032024325
