Question
The following materials standards have been established for a particular product: Standard quantity per unit of output 5.3 meters Standard price $ 17.20 per meter
The following materials standards have been established for a particular product:
| Standard quantity per unit of output | 5.3 | meters | |
| Standard price | $ | 17.20 | per meter |
The following data pertain to operations concerning the product for the last month:
| Actual materials purchased and used | 8,400 | meters | |
| Actual cost of materials purchased | $ | 146,580 | |
| Actual output | 1,900 | units | |
What is the materials price variance for the month?
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CIA Part 1 Essentials Of Internal Auditing Certified Internal Auditor 2019
Authors: Muhammad Zain
1st Edition
1091949182, 978-1091949188
