Information concerning Johnston Company's direct materials costs is as follows: Standard price per pound $ 8.05 Actual quantity purchased 3,450 pounds Actual quantity used in production 3,350 pounds Units of product manufactured 860 Materials purchase-price variance–favorable $ 1,015 Budget data for the period: Units to manufacture 1,160 Units of direct materials 4,640 pounds The actual purchase price per pound of direct materials was: $7.72. $8.34. $8.72. $8.09. $7.76.
Information concerning Johnston Company's direct materials costs is as follows: Standard price per pound $ 8.05 Actual quantity purchased 3,450 pounds Actual quantity used in production 3,350 pounds Units of product manufactured 860 Materials purchase-price variance–favorable $ 1,015 Budget data for the period: Units to manufacture 1,160 Units of direct materials 4,640 pounds The actual purchase price per pound of direct materials was: $7.72. $8.34. $8.72. $8.09. $7.76.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Information concerning Johnston Company's direct materials costs is as follows:
| Standard price per pound | $ 8.05 | |
|---|---|---|
| Actual quantity purchased | 3,450 | pounds |
| Actual quantity used in production | 3,350 | pounds |
| Units of product manufactured | 860 | |
| Materials purchase-price variance–favorable | $ 1,015 | |
| Budget data for the period: | ||
| Units to manufacture | 1,160 | |
| Units of direct materials | 4,640 | pounds |
The actual purchase price per pound of direct materials was:
-
$7.72.
-
$8.34.
-
$8.72.
-
$8.09.
-
$7.76.
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