Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kansas Company uses a standard cost accounting system. In 2022, the company produced 28,000 units. Each unit took several pounds of direct materials and 1.6

image text in transcribed
image text in transcribed
Kansas Company uses a standard cost accounting system. In 2022, the company produced 28,000 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,000 direct labor hours. During the year, 117,000 pounds of raw materials were purchased at $0.92 per pound. All materials purchased were used during the year. (a) If the materials price variance was $3,510 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.8. 2.75.) Standard materials price per pound If the materials quantity variance was $4,750 unfavorable, what was the standard materials quantity per unit? Standard materials quantity per unit pounds

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Company Audit In A Budget Internal Audit For Financial Managers

Authors: Pramod Kesav N

1st Edition

B09QXF42M2

More Books

Students also viewed these Accounting questions

Question

Th is model is diff erent ( than, from ) the one we ordered.

Answered: 1 week ago