Give me true answer this general accounting question not use ai The standard cost card for one unit of a certain finished product shows thefollowing:Standard Quantity or Standard Price orHoursRateDirect materials10 pounds$? per poundDirect Labor2.5 hours$16 per hourVariablemanufacturing1.5 hours$10 per houroverheadIf the total standard variable cost for one unit of finished product is $85, then thestandard price per pound for direct materials is:A. $5.90B. $1.74C. $3.00D. $4.60

Step 1: Define Standard and actual hoursThe term standard and actual hours represent how standard…

Answered: The standard cost card for one unit of…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

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Standard price per pound for direct material is?
The standard cost card for one unit of a certain finished product shows the following: Standard Quantity or Standard Price or Hours Rate Direct materials 10 pounds $? per pound Direct Labor 2.5 hours $16 per hour Variable manufacturing 1.5 hours $10 per hour overhead If the total standard variable cost for one unit of finished product is $85, then the standard price per pound for direct materials is: A. $5.90 B. $1.74 C. $3.00 D. $4.60
Price per pound for direct material is
A standard cost card for one unit of a product may look like the following: Direct materials (4 pounds @ $1.25 per pound) $5.00 Direct labor (0.1 DLH @ $18 per hour) 1.80 Variable overhead (0.1 DLH @ $2.00 per hour) 0.20 Fixed overhead (0.1 DLH @ $4.60 per hour) 0.46 Total cost per unit $7.46 The standard cost to produce one unit is $7.46. The standard cost to produce 600 units are $ Of course, this is a simplification as the standard cost does not take fixed and variable costs into account. However, if the firm is producing at or near capacity, then the cost per unit of $7.46 could be multiplied by total units to get total standard cost. The standard cost card gives both unit and cost standards. The direct materials total of $5.00 is based on the use of four pounds of material at $1.25 per pound. Similarly, it should take six minutes (0.1 direct labor hour) to produce one unit. This makes it easy to determine total quantities and cost would be for multiple units. If 400 units were…
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The standard material cost to produce 1 unit of product r is 6 pounds of material at a standar price of $50 per pound . In manufacturing 8000 units 47000 pounds of material we're used at a cost of $51 per pound . What is the direct material price variance
Assume the following (quantity of materials purchased = quantity of materials used): Standards: Material price $4 per pound Labor hours 2 hours per unit Labor rate $11 pr hour Variances: Material quantity $400 U Material price $300 F Labor efficiency $1,100 F Actual results: Material price $3.80 per pound Labor hours 1,500 hours $12 per hour Labor rate What is the total standard quantity of materials allowed for the actual level of output? A. 1,200 pounds B. 1,400 pounds C. 1,800 pounds D. 2,200 pounds E. None of the above.
Jenny Company's direct material costs are as follows: Standard unit price - $3.60 Actual quantity purchased 1,600 Standard quantity allowed for actual production 1,450 Materials purchase price variance - favorable $240 Compute the actual purchase price per unit.
Selected costs associated with a product are as follows: Total standard hours for units produced Total actual direct labor cost Actual per hour labor rate 5,000 $ 1,11,625.00 $ 23.50 $ 24.00 Standard per hour labor rate What amount is the total direct labor price variance? a. $2,375 unfavorable. b. $2,375 favorable. c. $2,500 unfavorable. d. $2,500 favorable.
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