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CALCULATOR PRINTER VERSION BACK Problem 23-4A (Part Level Submission) Kansas Company uses a standard cost accounting system.
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Answer #1

Material price variance = (Standard Price - Actual Price)*Actual Quantity

5252 = (Standard Price - 0.91)*131300

Hence, standard price = 0.04+0.91

= $0.95 per pound

Hence, the answer is $0.95 per pound

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