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 4,000 lbs. Actual unit price of direct materials $2.5 per Ib. Units of finished product manufactured Standard direct materials per unit of finished product Direct materials quantity variance unfavorable $416 Det materials price vananefavorable Determine the standard direct materials cast 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. It required, round your standard cost per unit answer to two decimal places. 960 units 4 lbs $400 Product finished units units Standard finished product for direct materials used Deficiency of finished product for materials used Standard cost for direct materials units per unit Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (1,300 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 2,200 lbs. $ 0.44 per ib. Vinegar 120 gal $ 2.70 per gal Corn syrup 10 gal $9.80 per gal Salt 48 lbs $2.40 per lb. The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials for batch K-111 were as follows: 2,300 lbs. of tomatoes 115 gal. of vinegar 11 gal, of corn syrup 47 lbs of salt a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent. Ingredient Standard Cost per Batch Whole tomatoes Vinegar Corn syrup Salt Total Standard unit materials cost per pound The actual materials in a batch may vary from the standard due to tomato characteristies. Assume that the actual quantities of materials for batch K-111 were as follows 2,300 lbs. of tomatoes 115 gal, of vinegar 11 gal of com syrup 47 lbs. of salt a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent Ingredient Standard Cost per Batch Whole tomatoes Vinegar Com syrup Salt Total Standard unit materials cost per pound b. Determine the direct materials quantity variance for batch K-111. If required, round amounts to the nearest cont, Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Ingredient Materials Quantity Variance Favorable/Unfavorable Whole tomatoes Vinegar Corn syrup Salt Total direct materials quantity variance Direct Labor Variances The following data relate to labor cost for production of 6,800 cellular telephones: Actual: 4,590 hrs. at $15.3 Standard: 4,520 hrs. at $15.6 Determine the direct lahorrate variance, direct lahor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Rate variance Time vara Total direct labor cost variance b. The employees may have been less-xperienced or poorly trained, thereby resulting in a or training may have resulted in efficient performance. Thus, the actual time required was taborrate than planned. The lower level of experience than standard 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 4,000 lbs. Actual unit price of direct materials $2.5 per Ib. Units of finished product manufactured Standard direct materials per unit of finished product Direct materials quantity variance unfavorable $416 Det materials price vananefavorable Determine the standard direct materials cast 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. It required, round your standard cost per unit answer to two decimal places. 960 units 4 lbs $400 Product finished units units Standard finished product for direct materials used Deficiency of finished product for materials used Standard cost for direct materials units per unit Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (1,300 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 2,200 lbs. $ 0.44 per ib. Vinegar 120 gal $ 2.70 per gal Corn syrup 10 gal $9.80 per gal Salt 48 lbs $2.40 per lb. The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials for batch K-111 were as follows: 2,300 lbs. of tomatoes 115 gal. of vinegar 11 gal, of corn syrup 47 lbs of salt a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent. Ingredient Standard Cost per Batch Whole tomatoes Vinegar Corn syrup Salt Total Standard unit materials cost per pound The actual materials in a batch may vary from the standard due to tomato characteristies. Assume that the actual quantities of materials for batch K-111 were as follows 2,300 lbs. of tomatoes 115 gal, of vinegar 11 gal of com syrup 47 lbs. of salt a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent Ingredient Standard Cost per Batch Whole tomatoes Vinegar Com syrup Salt Total Standard unit materials cost per pound b. Determine the direct materials quantity variance for batch K-111. If required, round amounts to the nearest cont, Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Ingredient Materials Quantity Variance Favorable/Unfavorable Whole tomatoes Vinegar Corn syrup Salt Total direct materials quantity variance Direct Labor Variances The following data relate to labor cost for production of 6,800 cellular telephones: Actual: 4,590 hrs. at $15.3 Standard: 4,520 hrs. at $15.6 Determine the direct lahorrate variance, direct lahor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Rate variance Time vara Total direct labor cost variance b. The employees may have been less-xperienced or poorly trained, thereby resulting in a or training may have resulted in efficient performance. Thus, the actual time required was taborrate than planned. The lower level of experience than standard