Essay
Miller Manufacturing Corporation has the following information regarding direct materials:
Actual pounds of direct materials
purchased and used 47,000
Standard quantity of direct materials 2.5 pounds per finished good
Actual production 20,000 finished goods
Direct materials quantity variance $11,500 F
Direct materials price variance $ 9,400 U
Compute Miller's standard price per pound and actual price per pound of direct materials.
Correct Answer:
Verified
Correct Answer:
Verified
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