Standard price of the rate material

Reference no: EM13158902

In October, 5,000 meters of raw material were purchased at an actual cost of $4.50 per meter. During October, 4,850 meters of the raw material were used to produce 2,400 units of the completed product. Standards call for 2 meters of the raw material for each unit of the completed product. The standard price of the rate material is $4.70 per meter. The materials variances for October were:

Reference no: EM13158902

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