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 Inc., a

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 6,600 lbs.
Actual unit price of direct materials $2.8 per lb.
Units of finished product manufactured 3,170 units
Standard direct materials per unit of finished product 2 lbs.
Direct materials quantity varianceunfavorable $780
Direct materials price variancefavorable $1,320

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 units
Standard finished product for direct materials used units
Deficiency of finished product for materials used units
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 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 Finance questions