Thomas Company Uses a Standard Cost System and Recognizes the Materials

question 42

Multiple Choice

Thomas Company uses a standard cost system and recognizes the materials purchase price variance at the time materials are purchased.Information for raw materials for Product RBI for the month of October follows: What is the materials purchase price variance?

• A)$590 favorable
• B)$590 unfavorable
• C)$600 favorable
• D)$600 unfavorable

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