Standard costs versus actual costs for materials Assembly of product PI 3 requires one unit of component X, two units of component Y, and three units 556 Chapter 12 of component Z. Job J372 produced 220 units of PI 3. The following informa¬ tion pertains to material variances for this job, analyzed by component:

The actual prices were $0.30 more, $0.20 less, and $0.50 more per unit for components X, Y, and Z, respectively, than their standard prices.

(a) Determine the number of units consumed of each component.

(b) Determine the standard price per unit of each component.(LO 1)

Transcribed Image Text:

X Y Z Price variance Use variance 160 U 120 F 192 U 168 U 100 U 84 F