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Granite Manufacturing, Inc. has collected the following data on one of its products. The actual cost of the direct materials used is as follows: Description Amount Direct materials standard (4 lbs. @ $3/lb) Total direct materials cost variance Actual direct materials used Actual finished units produced - unfavourable $12 per finished unit $18,000 What is the actual cost of direct materials used? A. $150,000 B. $96,000 C. $258,000 D. $144,000 80,000 lbs. 20,000 units

Granite Manufacturing, Inc. has collected the following data on one of its products. The actual cost of the direct materials used is as follows: Description Amount Direct materials standard (4 lbs. @ $3/lb) Total direct materials cost variance Actual direct materials used Actual finished units produced - unfavourable $12 per finished unit $18,000 What is the actual cost of direct materials used? A. $150,000 B. $96,000 C. $258,000 D. $144,000 80,000 lbs. 20,000 units

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the actual cost of direct material use ?

Granite Manufacturing, Inc. has collected the following data on one of its products. The actual cost of the direct materials used is as follows: Description Amount Direct materials standard (4 lbs. @ $3/lb) Total direct materials cost variance Actual direct materials used Actual finished units produced - unfavourable $12 per finished unit $18,000 What is the actual cost of direct materials used? A. $150,000 B. $96,000 C. $258,000 D. $144,000 80,000 lbs. 20,000 units
Transcribed Image Text:Granite Manufacturing, Inc. has collected the following data on one of its products. The actual cost of the direct materials used is as follows: Description Amount Direct materials standard (4 lbs. @ $3/lb) Total direct materials cost variance Actual direct materials used Actual finished units produced - unfavourable $12 per finished unit $18,000 What is the actual cost of direct materials used? A. $150,000 B. $96,000 C. $258,000 D. $144,000 80,000 lbs. 20,000 units
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