At the beginning of October, Nelson Inc. detemined the following for a particular product Standard Quantity...

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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 2$ 150,000 1,500 lbs. 2,500 lbs. 8,000 units Actual Units Produced Materials Purchase Price Variance 2$ 15,000 Favorable 17 What was the Materials Quantity Variance for October? AC В. $3,000 Unfavorable $5,000 Unfavorable C. $15,000 Unfavorable D. $27,000 Favorable E. None of the above At the beginning of October, Nelson Inc. detemined the following for a particular product Standard Quantity of material per unit produced 10.0 lbs. Standard Price of material 2.00 per lb. Budgeted Units to be produced 6,000 units The following data pertain to operations concerning the product for October: Actual Cost of materials purchased Beginning Materials Inventory Ending Materials Inventory 2$ 150,000 1,500 lbs. 2,500 lbs. 8,000 units Actual Units Produced Materials Purchase Price Variance 2$ 15,000 Favorable 17 What was the Materials Quantity Variance for October? AC В. $3,000 Unfavorable $5,000 Unfavorable C. $15,000 Unfavorable D. $27,000 Favorable E. None of the above

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ANSWER Materials Purchase Price variance Actual quantity purchasedStandard pric... View the full answer