At the beginning of October, Nelson Inc. detemined the following for a particular product: Standard Quantity of material per unit produced 10.0 lbs. Standard Price of material $ 2.00 per lb. Budgeted Units to be produced 6,000 units The following data pertain to operations concerning the product for October: Actual Cost of materials purchased Beginning Materials Inventory Ending Materials Inventory $ 150,000 1,500 lbs. 2,500 lbs. Actual Units Produced 8,000 units Materials Purchase Price Variance $ 15,000 Favorable 7 What was the Materials Quantity Variance for October? $3,000 Unfavorable А. $5,000 Unfavorable $15,000 Unfavorable В. C. D. $27,000 Favorable E. None of the above

At the beginning of October, Nelson Inc. detemined the following for a particular product: Standard Quantity of material per unit produced 10.0 lbs. Standard Price of material $ 2.00 per lb. Budgeted Units to be produced 6,000 units The following data pertain to operations concerning the product for October: Actual Cost of materials purchased Beginning Materials Inventory Ending Materials Inventory $ 150,000 1,500 lbs. 2,500 lbs. Actual Units Produced 8,000 units Materials Purchase Price Variance $ 15,000 Favorable 7 What was the Materials Quantity Variance for October? $3,000 Unfavorable А. $5,000 Unfavorable $15,000 Unfavorable В. C. D. $27,000 Favorable E. None of the above

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Description: At the beginning of October, Nelson Inc. detemined the following for a particular product:Standard Quantity of material per unit produced10.0 lbs.Standard Price of material2.00 per lb.Budgeted Units to be produced6,000 unitsThe following data pertai

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 5E: Prepare a cost of goods sold budget for MacLaren Manufacturing Inc. for the year ended December 31,...

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