Young Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $181 per board. This includes 20 pounds of direct materials, at the budgeted price of $2 per pound, and 10 hours of direct manufacturing labor, at the budget rate of $14.10 per hour. Following are additional data for the month of July. Units completed Direct material purchases Cost of direct material purchases Actual direct manufacturing labor hours Actual direct labor cost Direct materials efficiency variance There were no beginning inventories. 5,500 units 210,000 pounds $714,000 46,000 hours $676,200 $1,100 F Calculate the actual price per pound of direct materials purchased.

Young Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $181 per board. This includes 20 pounds of direct materials, at the budgeted price of $2 per pound, and 10 hours of direct manufacturing labor, at the budget rate of $14.10 per hour. Following are additional data for the month of July. Units completed Direct material purchases Cost of direct material purchases Actual direct manufacturing labor hours Actual direct labor cost Direct materials efficiency variance There were no beginning inventories. 5,500 units 210,000 pounds $714,000 46,000 hours $676,200 $1,100 F Calculate the actual price per pound of direct materials purchased.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter9: Standard Costing: A Functional-based Control Approach

Section: Chapter Questions

Problem 33P: Business Specialty, Inc., manufactures two staplers: small and regular. The standard quantities of...

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