Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Quantity of

image text in transcribed
The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Quantity of direct materials used 7,700 lbs. Actual unit price of direct materials $3.9 per lb. Units of finished product manufactured 1,845 units Standard direct materials per unit of finished product 4 lbs. Direct materials quantity variance-unfavorable $1,280 Direct materials price variance-favorable $770 Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in proce the month. If required, round your standard cost per unit answer to two decimal places. Product finished units Standard finished product for direct materials used units units Deficiency of finished product for materials used Standard cost for direct materials per unit

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

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

Recommended Textbook for

Accounting What the Numbers Mean

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,

9th Edition

978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062

More Books

Students also viewed these Accounting questions

Question

Is psychological treatment better than medication?

Answered: 1 week ago