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Problem 16-64(Algo) Direct Materlals (LO 16-5) Information about direct materials cost follows for Jennings...

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Accounting

Problem 16-64(Algo) Direct Materlals (LO 16-5)
Information about direct materials cost follows for Jennings Chemicals:
Standard price per gallon $56
Actual quantity used 4,649 gallons
Standard quantity allowed for production 4,679 gallons
Price variance
$22,272U
Requlred:
What was the actual purchase price per gallon?
Note: Round your answer to 2 declmal pleces.
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