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 5,800 lbs. Actual unit price of direct materials $3.90 per lb. Units of finished product manufactured 1,390 units Standard direct materials per unit of finished product 4 lbs. Direct materials quantity variance—unfavorable $984 Direct materials price variance—favorable $1,160 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

Mountain Madness, a manufacturer of the hiking boots uses standard costing for the single product the company makes and sells. The following data are for the month of April: o Actual cost of direct material purchased and used: $87,807.50 o Material price variance: $5,665 favorable o Total materials variance: $220 favorable o Standard cost per pound of material: $8.25 per lb. o Standard cost per direct labor hour: $7.50 per hour o Actual direct labor hours: 5,500 hours o Labor efficiency variance: $1,650 unfavorable o Standard number of direct labor hour per unit of product: 2.40 hours/unit o Total labor variance: $5,775 unfavorable Determine the standard quantity of material allowed in producing one unit of product. Important: Present your number without units and round to two decimal places. For example if the answer is 11.25 lbs. per unit, simply record 11.25.    Answer:

Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 74,000 units of product were as follows: Standard Costs Actual Costs Direct materials 199,800 lbs. at $5.90 197,800 lbs. at $5.70 Direct labor 18,500 hrs. at $16.50 18,930 hrs. at $16.90 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 19,310 direct labor hrs.: Variable cost, $2.90 $53,110 variable cost Fixed cost, $4.60 $88,826 fixed cost Each unit requires 0.25 hour of direct labor. Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance Direct Materials Quantity Variance Total…

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