Compound Q11H is a raw material used to make Grater Corporation's major product. The standard cost of compound Q11H is $23.00 per ounce and the standard quantity is 3.8 ounces per unit of output. Data concerning the compound for October appear below: The raw material was purchased on account.
-The Materials Price Variance for October would be recorded as a:
A)Debit of $230
B)Credit of $212
C)Debit of $212
D)Credit of $230

Question

Compound Q11H is a raw material used to make Grater Corporation's major product. The standard cost of compound Q11H is $23.00 per ounce and the standard quantity is 3.8 ounces per unit of output. Data concerning the compound for October appear below:  The raw material was purchased on account.
-The Materials Price Variance for October would be recorded as a:
A)Debit of $230 
B)Credit of $212 
C)Debit of $212 
D)Credit of $230

Quizplus · Accepted Answer

The Answer of  Compound Q11H is a raw material used to make Grater Corporation's major product. The standard cost of compound Q11H is $23.00 per ounce and the standard quantity is 3.8 ounces per unit of output. Data concerning the compound for October appear below:  The raw material was purchased on account.
-The Materials Price Variance for October would be recorded as a:
A)Debit of $230 
B)Credit of $212 
C)Debit of $212 
D)Credit of $230

Compound Q11H Is a Raw Material Used to Make Grater