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The Following Standards Have Been Established for a Raw Material

Question 48

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The following standards have been established for a raw material used to make product P62:

The following standards have been established for a raw material used to make product P62: The following data pertain to a recent month's operations: Required: a.What is the materials price variance for the month? b.What is the materials quantity variance for the month? The following data pertain to a recent month's operations:The following standards have been established for a raw material used to make product P62: The following data pertain to a recent month's operations: Required: a.What is the materials price variance for the month? b.What is the materials quantity variance for the month? Required:
a.What is the materials price variance for the month?
b.What is the materials quantity variance for the month?

Correct Answer:

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a.Materials price variance = (AQ × AP)- ...

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