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Dominik [7]
3 years ago
5

The following materials standards have been established for a particular product: Standard quantity per unit of output 4.5 meter

s Standard price $17.40 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased 7,000 meters Actual cost of materials purchased $124,250 Actual materials used in production 6,500 meters Actual output 1,420 units What is the materials price variance for the month?
Business
1 answer:
sweet-ann [11.9K]3 years ago
3 0

Answer:

$2,450 Unfavorable

Explanation:

The computation of material price variance is shown below:-

Material price variance = ( Standard Price - Actual Price ) × Actual Quantity of materials purchased

= $17.40 - ($124,250 ÷ 7000) × 7,000

= ($17.40 - $17.75) × 7000

= $2,450 Unfavorable

Therefore for computing the material price variance we simply applied the above formula.

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Hale Company sells merchandise on account for $1,000 to Long Company with credit terms of 2/10, n/30. Long Company returns $200
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Answer:

Amount of Check = $784

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Explanation:

given data

Merchandise on account = $1,000

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credit terms =  2/10

n/30

to find out

What is the amount of the check

solution

we know here that Total Merchandise will be

Total Merchandise = Merchandise on account  - returns   ....................1

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so

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so correct option is a. $784

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Answer:

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