Answered step by step
Verified Expert Solution
Question
1 Approved Answer
April Industries employs a standard costing system in the manufacturing of its sole product, a park bench. They purchased 50,000 feet of raw material for
April Industries employs a standard costing system in the manufacturing of its sole product, a park bench. They purchased 50,000 feet of raw material for $200,000, and it takes 5 feet of raw materials to produce one park bench. In August, the company produced 9,000 park benches. The standard cost for material output was $90,000, and there was an unfavorable direct materials quantity variance of $7,000.
A. What is April Industries' standard price for one unit of material? Standard cost per unit $ B. What was the total number of units of material used to produce the August output? Actual quantity feet Units C. What was the direct materials price variance for August? Direct materials price variance $Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started