Ingredient A12H is a material used to make Calvin Corporation's major product. The standard cost of...
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Ingredient A12H is a material used to make Calvin Corporation's major product. The standard cost of Ingredient A12H is $36.00 per ounce and the standard quantity is 3.8 ounces per unit of output. Data concerning the compound for October appear below. $ 36.10 per ounce Cost of material purchased in October Material purchased in October Material used in production in October Actual output in October 2,950 ounces 2,250 ounces 730 units The material was purchased on account and Calvin Corporation uses a standard costing system. The credit to the Materials Inventory account for October would total: Multiple Choice $99,864. $106,200. $106,495. $81,000. Ingredient A12H is a material used to make Calvin Corporation's major product. The standard cost of Ingredient A12H is $36.00 per ounce and the standard quantity is 3.8 ounces per unit of output. Data concerning the compound for October appear below. $ 36.10 per ounce Cost of material purchased in October Material purchased in October Material used in production in October Actual output in October 2,950 ounces 2,250 ounces 730 units The material was purchased on account and Calvin Corporation uses a standard costing system. The credit to the Materials Inventory account for October would total: Multiple Choice $99,864. $106,200. $106,495. $81,000.
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Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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