Information about direct materials cost follows for Jennings Chemicals: Standard price per gallon Actual quantity used $ 56 4,370 gallons 4,400 gallons Standard quantity allowed for production Price variance Required: What was the actual purchase price per gallon? Note: Round your answer to 2 decimal places. Actual purchase price per gallon $ 17,043 U

Information about direct materials cost follows for Jennings Chemicals: Standard price per gallon Actual quantity used $ 56 4,370 gallons 4,400 gallons Standard quantity allowed for production Price variance Required: What was the actual purchase price per gallon? Note: Round your answer to 2 decimal places. Actual purchase price per gallon $ 17,043 U

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Description: Information about direct materials cost follows for Jennings Chemicals:Standard price per gallonActual quantity usedStandard quantity allowed for productionPrice varianceRequired:What was the actual purchase price per gallon?Note: Round your answer

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter12: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 12.16E: Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that...

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