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Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken
Standard Direct Materials Cost per Unit from Variance Data
The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys:
Quantity of direct materials used | 8,600 lbs. |
Actual unit price of direct materials | $5.9 per lb. |
Units of finished product manufactured | 2,060 units |
Standard direct materials per unit of finished product | 4 lbs. |
Direct materials quantity varianceunfavorable | $2,196 |
Direct materials price variancefavorable | $1,720 |
Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in process at either the beginning or the end of the month. If required, round your standard cost per unit answer to two decimal places.
Product finished | fill in the blank 1 | units |
Standard finished product for direct materials used | fill in the blank 2 | units |
Deficiency of finished product for materials used | fill in the blank 3 | units |
Standard cost for direct materials | $fill in the blank 4 | per unit |
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