Question
The Porter Company has a standard cost system. In July the company purchased and used 22,500 pounds of direct material at an actual cost of
The Porter Company has a standard cost system. In July the company purchased and used 22,500 pounds of direct material at an actual cost of $53,000; the materials quantity variance was $1,875 Unfavorable; and the standard quantity of materials allowed for July production was 21,750 pounds. The materials price variance for July was:
| a. | $2,725 F | |
| b. | $2,725 U | |
| c. | $3,250 F | |
| d. | $3,250 U |
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50 + Fun Financial Accounting Cases
Authors: Thomas E. McKee
1st Edition
1257824538, 978-1257824533
