Perkins Company, which has a standard cost system, had 500 pounds of raw material X in...

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Perkins Company, which has a standard cost system, had 500 pounds of raw material X in its inventory at June 1, purchased in May for Php1.20 per pound and carried at a standard cost of Php1.00 per pound. The following information pertains to raw material X for the month of June: Actual pounds purchased Actual pounds used 1,400 1,500 Standard pounds allowed for actual production 1,300 Standard cost per pound Php1.00 Php1.10 Actual cost per pound The unfavorable materials purchase price variance for raw material X for June was.? Perkins Company, which has a standard cost system, had 500 pounds of raw material X in its inventory at June 1, purchased in May for Php1.20 per pound and carried at a standard cost of Php1.00 per pound. The following information pertains to raw material X for the month of June: Actual pounds purchased Actual pounds used 1,400 1,500 Standard pounds allowed for actual production 1,300 Standard cost per pound Php1.00 Php1.10 Actual cost per pound The unfavorable materials purchase price variance for raw material X for June was.?

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First lets calculate the standard cost of the actual pounds purchased Standard cost ... View the full answer