Question 11--/1View PoliciesCurrent Attempt in ProgressA company developed the following per-unit standards forits product: 2 gallons of direct materials at $8 per gallon.Last month, 1000 gallons of direct materials werepurchased for $7600. The direct materials price variancefor last month wasO $7600 favorable.O $400 favorable.O $200 favorable.$400 unfavorable.hpinsprt sflVAAf10f9f6 10f74+f5%D8.7PIY/100CO

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Asked Dec 10, 2019
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Question 11
--/1
View Policies
Current Attempt in Progress
A company developed the following per-unit standards for
its product: 2 gallons of direct materials at $8 per gallon.
Last month, 1000 gallons of direct materials were
purchased for $7600. The direct materials price variance
for last month was
O $7600 favorable.
O $400 favorable.
O $200 favorable.
$400 unfavorable.
hp
ins
prt s
fl
VAA
f10
f9
f6 10
f7
4+
f5
%D
8.
7
PI
Y
/1
00
CO
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Question 11 --/1 View Policies Current Attempt in Progress A company developed the following per-unit standards for its product: 2 gallons of direct materials at $8 per gallon. Last month, 1000 gallons of direct materials were purchased for $7600. The direct materials price variance for last month was O $7600 favorable. O $400 favorable. O $200 favorable. $400 unfavorable. hp ins prt s fl VAA f10 f9 f6 10 f7 4+ f5 %D 8. 7 PI Y /1 00 CO

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Expert Answer

Step 1

Given:

Standard rate = $8 per gallon

Actual Quantity = 1000 gallons

Actual Price = $7,600 for 10...

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