Problem 16-61 (Algo) Direct Materials (LO 16-5) Information about direct materials cost follows for a local company: $4 2,270 grams 2,400 grams $15,890 F Standard price per materials gram 20 Actual quantity used Standard quantity allowed for production Price variance Required: What was the actual purchase price per gram? Actual purchase price per gram

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Problem 16-61 (Algo) Direct Materials (LO 16-5)
Information about direct materials cost follows for a local company:
Standard price per materials gram
Actual quantity used
Standard quantity allowed for production
20
2,270 grams
2,400 grams
$15,890 F
Price variance
Required:
What was the actual purchase price per gram?
Actual purchase price
per gram
Transcribed Image Text:Problem 16-61 (Algo) Direct Materials (LO 16-5) Information about direct materials cost follows for a local company: Standard price per materials gram Actual quantity used Standard quantity allowed for production 20 2,270 grams 2,400 grams $15,890 F Price variance Required: What was the actual purchase price per gram? Actual purchase price per gram
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