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Fiber orks ompany s a manufacturer o berglass toy boats. The company has recenty mplemente a standard cost system and has des ned the s
Fiber orks ompany s a manufacturer o berglass toy boats. The company has recenty mplemente a standard cost system and has des ned the s ste month of May, the following results were reported for the production of 25,100 toy boats: e as soon as possible. Dun the to is te aria Direct materials (fiberglass) purchased Direct materials issued into production Standard pounds allowed per boat Standard price per pound Cost of fiberglass purchased 49,700 pounds 39,500 pounds 1.49 pounds $6.46 $303,170 Required a. Calculate the actual cost per pound of fiberglass purchased during May. (Round your answer to 2 decimal places.) l cost per pound b. Calculate the direct materials purchase price variance for May. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) purchase c. Calculate the direct materials usage variance for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). vari
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