Question
The Wright Company has a standard costing system. The following data are available for September: Actual quantity of direct materials purchased 35,000 pounds Standard price
| The Wright Company has a standard costing system. The following data are available for September: |
| Actual quantity of direct materials purchased | 35,000 | pounds |
| Standard price of direct materials | $ 8 | per pound |
| Material price variance | $7,000 | unfavorable |
| The actual price per pound of direct materials purchased in September is: (Round your answer to 2 decimal places.) |
$8.20
$7.76
$8.00
$8.24
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Intermediate Accounting
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
11th edition
978-0538467087, 9781111781262, 538467088, 1111781265, 978-0324659139
