Bulbasaur Company uses a standard costing system in the manufacture of its single product. The 50,000 units of raw material in inventory were purchased for P100,000, and three units of raw material are required to produce one unit of final product. In November, the company produced 15,000 units of product. The standard cost allowed for material was P67,500, and there was an unfavorable quantity variance of P4,500. The materials price variance for the units used in November was: * O a. P 22,500 favorable O b. P 22,500 unfavorable OC.P 24,000 unfavorable O d. P 24,000 favorable
Bulbasaur Company uses a standard costing system in the manufacture of its single product. The 50,000 units of raw material in inventory were purchased for P100,000, and three units of raw material are required to produce one unit of final product. In November, the company produced 15,000 units of product. The standard cost allowed for material was P67,500, and there was an unfavorable quantity variance of P4,500. The materials price variance for the units used in November was: * O a. P 22,500 favorable O b. P 22,500 unfavorable OC.P 24,000 unfavorable O d. P 24,000 favorable
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 8EA: Queen Industries uses a standard costing system in the manufacturing of its single product. It...
Related questions
Question
QUESTION 2
Cost Accounting
Choose the answer from the choices
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning