SOLVE COMPLETE QUESTIONS Standard Direct Materials Cost per Unit from Variance DataThe 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 used5,700 lbs.$2.80 per lb.Actual unit price of direct materialsUnits of finished product manufactured1,365 unitsStandard direct materials per unit of finished product4 lbs.Direct materials quantity variance-unfavorable$720Direct materials price variance-favorable$1,140Determine 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 ofthe month. If required, round your standard cost per unit answer to two decimal places.Product finishedStandard finished product for direct materials usedDeficiency of finished product for materials usedStandard cost for direct materialsunitsunitsunitsper unit

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Description: SOLVE COMPLETE QUESTIONS Standard Direct Materials Cost per Unit from Variance DataThe 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:

Direct Material Price Variance:Material Price Variance is the result of the deviation of the actual…

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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 from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 5,700 lbs. $2.80 per lb. Actual unit price of direct materials Units of finished product manufactured 1,365 units Standard direct materials per unit of finished product Direct materials quantity variance-unfavorable Direct materials price variance-favorable 4 lbs. $720 $1,140 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.

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 5,700 lbs. $2.80 per lb. Actual unit price of direct materials Units of finished product manufactured 1,365 units Standard direct materials per unit of finished product Direct materials quantity variance-unfavorable Direct materials price variance-favorable 4 lbs. $720 $1,140 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.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 6E: Standard direct materials cost per unit from variance data The following data relating to direct...

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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 from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 7,600 lb. Actual unit price of direct materials $4.00 per lb. Units of finished product manufactured 3,650 units Standard direct materials per unit of finished product 2 lb. Direct materials quantity variance—unfavorable $1,260 Direct materials price variance—unfavorable $1,520 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 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…
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