Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Below is the information regarding products and direct materials (DM) of Nathan Inc. for October: Standard price per pound DM $ 8.05 Actual quantity of
Below is the information regarding products and direct materials (DM) of Nathan Inc. for October:
| Standard price per pound DM | $ | 8.05 | ||
| Actual quantity of DM purchased | 3,450 | pounds | ||
| Actual quantity of DM used in production | 3,350 | pounds | ||
| Units of product manufactured | 860 | |||
| DM price variancefavorable | $ | 1,015 | ||
| Budget data for the period: | ||||
| Units of product to manufacture | 1,160 | |||
| Units of DM | 4,640 | pounds | ||
What should be the actual purchase price per pound of direct materials?
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
Governmental Accounting
Authors: Steven M. Bragg
2022nd Edition
1642210781, 978-1642210781
