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In August 2002, Best Publishing company's costs and quantities of paper consumed in manufacturing its 2003 executive planner and Calendar were as follow:
Actual Unit Purchase Price $0.14 per page
Standard quantity allowed for good production 195,800 pages
Actual quantity purchased during August 230,000 pages
Actual quantity used in August 200,000 pages
Standard unit price $0.15 per page
A: find out the total cost of purchases for August.
B: Compare the material price variance (based on quantity purchased)
C: find out the material quantity variance.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M952809

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