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Below is the information regarding products and direct materials (DM) of a company for October: Standard price per pound DM $ 8.45 Actual quantity of
Below is the information regarding products and direct materials (DM) of a company for October:
| Standard price per pound DM | $ | 8.45 | ||
| Actual quantity of DM purchased | 3,630 | pounds | ||
| Actual quantity of DM used in production | 3,530 | pounds | ||
| Units of product manufactured | 900 | |||
| DM price variancefavorable | $ | 1,055 | ||
| Budget data for the period: | ||||
| Units of product to manufacture | 1,200 | |||
| Units of DM | 4,800 | pounds | ||
What should be the actual purchase price per pound of direct materials?
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Accounting
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
28th Edition
1337902683, 978-1337902687
