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

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A company reports the following for one of its products. Direct materials standard (4 pounds @ $2 per pound) $ 8 per unit Actual direct materials used (AQ) 320,000 pounds Actual units produced 63,000 units Actual cost of direct materials used $ 576,000 AQ = Actual QuantitySQ = Standard QuantityAP = Actual PriceSP = Standard PriceCompute the direct materials price and quantity variances and identify each as favorable or unfavorable.
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Brooks Company uses a standaed conting nystem. The following information pertains to direct materials for the month of June: Standard price per h Actual purchase price per h. Quanity punchased Quaity used Sandard quantity allowed for actual output Actual output SI5.00 S14.50 3,150 be. 2,980 he. 3,000 he. 1,000 unita Brooks Company reports its material price variances at the time of purchase. What is the journal entry to recond material purchases? O Materials 47,250 Materials Price Variance 1,575 Accounta Payable 45,675 O Materials 47,165 Materials Price Variance 1,490 Accounts Payable 45,675 OMateriala 47,175 Materials Price Variance 1,500 Accounts Payable 45,675 O Materials 44,100 Materials Price Variance 1,575 Accounts Payable 45,675
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I just need help finding the standard cost for direct materials I thought it was $1368 but it is incorrect. 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 5,900 lb. Actual unit price of direct materials $5.90 per lb. Units of finished product manufactured 1,415 units Standard direct materials per unit of finished product 4 lb. Direct materials quantity variance—unfavorable $1,464 Direct materials price variance—unfavorable $1,180 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 1415 units Standard finished product for direct materials used 1475 units Deficiency of finished…
The standard costs and actual costs for direct materials for the manufacture of 2,780 actual units of product are as follows: Standard Costs Direct materials Direct materials 2,780 kilograms at $8.70 Actual Costs 2,900 kilograms at $8.05 The direct materials quantity variance is Oa. $835 unfavorable Ob. $1,044 unfavorable Oc. $1,044 favorable Od. $835 favorable
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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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