Business, 28.06.2020 01:01, dmgboos6

g Jackson Industries uses a standard cost system in which direct materials inventory is carried at standard cost. Jackson has established the following standards for one unit of product: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 4 pounds $4.70 per pound $18.80 Direct labor 2.60 hours $7.00 per hour $18.20 During May, Jackson purchased 107,250 pounds of direct material at a total cost of $525,525. The total factory wages for May were $419,300, 90 percent of which were for direct labor. Jackson manufactured 23,000 units of product during May using 88,600 pounds of direct material and 60,300 direct labor-hours. The price variance for the direct material acquired by Jackson Industries during May is:

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g Jackson Industries uses a standard cost system in which direct materials inventory is carried at s...