Devoto Inc. has provided the following data concerning one of the products in its standard cost system.
The company has reported the following actual results for the product for June:
-The raw materials price variance for the month is closest to:
Definitions:
Principal Products
The main or most significant products manufactured or offered by a company, often the primary source of its revenue.
Job Order Cost System
An accounting system that accumulates costs by specific jobs, used in situations where goods or services are produced upon receipt of a customer order.
Cost Of Production Report
A detailed report that outlines the costs associated with the production of goods, including direct materials, direct labor, and overhead.
Job Cost Cards
Documents used to record and track the costs associated with a specific job or project, including materials, labor, and overhead.
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