Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 23-4A (part level submission) Kansas Company uses a standard cost accounting system. In 2014, the company produced 28,400 units. Each unit took several pounds

Problem 23-4A (part level submission) Kansas Company uses a standard cost accounting system. In 2014, the company produced 28,400 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 49,550 direct labor hours. During the year, 130,800 pounds of raw materials were purchased at $0.94 per pound. All materials purchased were used during the year.

image text in transcribed

Kansas Company uses a standard cost accounting system. In 2014, the company produced 28,400 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 49,550 direct labor hours. During the year, 130,800 pounds of raw materials were purchased at $0.94 per pound. All materials purchased were used during the year. ho (a) 3 . Your answer is incorrect. Try agairn If the materials price variance was $5,232 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 275.) Standard materials price per pound Click if you would like to Show Work for this question: Open Show Work 23.53 SHOW SOLUTIONSHOW ANSWER LINK TO TEXT Attempts: 3 of 3 used (b) If the materials quantity variance was $5,723 unfavorable, what was the standard materials quantity per unit? (Round answer to 1 decimal places, e.g. 1.5.) Standard materials quantity per unit Click if you would like to Show Work for this question: Open Show Work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions