Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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Transcribed Image Text:Summit Manufacturing purchased 75,000 pounds of material for
$412,500. The standard cost is $6.00 per pound. During the period,
Summit produced 24,800 units, with each unit requiring a standard
of 3 pounds of material. Actual usage was 70,500 pounds. What is
the materials purchase price variance?
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