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Premium Textiles manufactures a luxury embroidered pillow. The following are the cost standards for the pillow: Data Table Cost Standards Direct materials (fabric) 3.0 yards per pillow at $8.00 per yard Direct labor 0.6 direct labor hours per pillow at $20.00 per hour Actual results from last month's production of 3,000 pillows are as follows: Data Table Actual Results Actual cost of 9,300 yards of direct material (fabric) purchased $74,400 Actual yards of direct material (fabric) used Actual wages for 1,850 direct labor hours worked Determine the actual cost per yard of fabric purchased. 8,800 yards $37,000

Premium Textiles manufactures a luxury embroidered pillow. The following are the cost standards for the pillow: Data Table Cost Standards Direct materials (fabric) 3.0 yards per pillow at $8.00 per yard Direct labor 0.6 direct labor hours per pillow at $20.00 per hour Actual results from last month's production of 3,000 pillows are as follows: Data Table Actual Results Actual cost of 9,300 yards of direct material (fabric) purchased $74,400 Actual yards of direct material (fabric) used Actual wages for 1,850 direct labor hours worked Determine the actual cost per yard of fabric purchased. 8,800 yards $37,000

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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Premium Textiles manufactures a luxury embroidered pillow. The following are the cost standards for the pillow: Data Table Cost Standards Direct materials (fabric) 3.0 yards per pillow at $8.00 per yard Direct labor 0.6 direct labor hours per pillow at $20.00 per hour Actual results from last month's production of 3,000 pillows are as follows: Data Table Actual Results Actual cost of 9,300 yards of direct material (fabric) purchased $74,400 Actual yards of direct material (fabric) used Actual wages for 1,850 direct labor hours worked Determine the actual cost per yard of fabric purchased. 8,800 yards $37,000
Transcribed Image Text:Premium Textiles manufactures a luxury embroidered pillow. The following are the cost standards for the pillow: Data Table Cost Standards Direct materials (fabric) 3.0 yards per pillow at $8.00 per yard Direct labor 0.6 direct labor hours per pillow at $20.00 per hour Actual results from last month's production of 3,000 pillows are as follows: Data Table Actual Results Actual cost of 9,300 yards of direct material (fabric) purchased $74,400 Actual yards of direct material (fabric) used Actual wages for 1,850 direct labor hours worked Determine the actual cost per yard of fabric purchased. 8,800 yards $37,000
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