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 usedActual unit price of direct materials6,100 lb.$3.30 per lb.Units of finished product manufacturedStandard direct materials per unit of finished productDirect materials quantity variance-unfavorableDirect materials price variance-unfavorable1,465 units4 lb.$840$1,220Determine 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 answerto two decimal places.Product finishedStandard finished product for direct materials usedDeficiency of finished product for materials usedStandard cost for direct materialsunitsunitsunitsper unit

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Description: 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 usedActual unit price of direct materials6,100 lb.$3.

Variance Analysis : Analysis of a differences between planned and actual behavior. After analyzing…

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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 Actual unit price of direct materials Units of finished product manufactured Standard direct materials per unit of finished product Direct materials quantity variance-unfavorable Direct materials price variance-unfavorable 6,100 lb. $3.30 per lb. 1,465 units 4 lb. $840 $1,220 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

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 Actual unit price of direct materials Units of finished product manufactured Standard direct materials per unit of finished product Direct materials quantity variance-unfavorable Direct materials price variance-unfavorable 6,100 lb. $3.30 per lb. 1,465 units 4 lb. $840 $1,220 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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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 6,500 lbs. Actual unit price of direct materials $5.9 per lb. Units of finished product manufactured 3,120 units Standard direct materials per unit of finished product 2 lbs. Direct materials quantity variance—unfavorable $1,586 Direct materials price variance—favorable $1,300 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 fill in the blank 1 units Standard finished product for direct materials used fill in the blank 2 units Deficiency of finished product for materials used fill in…
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