M8(4) **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: **6,300 lb.**- Actual unit price of direct materials: **$5.80 per lb.**- Units of finished product manufactured: **1,515 units**- Standard direct materials per unit of finished product: **4 lb.**- **Direct materials quantity variance—unfavorable**: $1,416- **Direct materials price variance—unfavorable**: $630**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: [___] units- Standard finished product for direct materials used: [___] units- Deficiency of finished product for materials used: [___] units- **Standard cost** for direct materials: $[___] per unit

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Description: M8(4) **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 d

Material variance data are those data which are derived from the variance and difference in cost of…

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Accounting

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 6,300 lb. Actual unit price of direct materials $5.80 per lb. 1,515 units Units of finished product manufactured Standard direct materials per unit of finished product Direct materials quantity variance-unfavorable Direct materials price variance-unfavorable 4 lb. $1,416 $630 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 Standard finished product for direct materials used Deficiency of finished product for materials used Standard cost for direct materials units units units per unit

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 6,300 lb. Actual unit price of direct materials $5.80 per lb. 1,515 units Units of finished product manufactured Standard direct materials per unit of finished product Direct materials quantity variance-unfavorable Direct materials price variance-unfavorable 4 lb. $1,416 $630 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 Standard finished product for direct materials used Deficiency of finished product for materials used Standard cost for direct materials units units units per unit

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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