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12 October, 01:25

Suver Corporation has a standard costing system. The following data are available for June:Actual quantity of direct materials purchased 24,000 poundsStandard price of direct materials $6.00 per poundMaterial price variance $6,000 UnfavorableMaterial quantity variance $2,400 FavorableThe actual price per pound of direct materials purchased in June was:a. $6.10 per poundb. $5.90 per poundc. $6.25 per poundd. $6.30 per pound

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  1. 12 October, 01:51
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    c. $6.25 per pound

    Explanation:

    The computation of the material price variance is presented below:

    Material price variance = Actual Quantity * (Standard Price - Actual Price)

    $6,000 = 24,000 * ($6 per pound - Actual price)

    $6,000 : $24,000 = $6 per pound - Actual price

    $0.25 = $6 per pound - Actual price

    So, the actual price would be

    = $6 + $0.25

    = $6.25 per pound
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