Answered

At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Join our Q&A platform to get precise answers from experts in diverse fields and enhance your understanding. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

Use the information provided to answer the questions. Actual price paid per pound of material $14.50 Total standard pounds for units produced this period 12,400 Pounds of material used 13,350 Direct materials price variance favorable $3,337.50 All material purchased was used in production. Enter all amounts as positive numbers. A. What is the standard price for materials

Sagot :

facundobuzzetti

Answer:

$14.75= standard price

Explanation:

Giving the following information:

Actual price paid per pound of material $14.50

Total standard pounds for units produced this period 12,400

Pounds of material used 13,350

Direct materials price variance favorable $3,337.50

To calculate the standard cost for materials, we need to use the following formula:

Direct material price variance= (standard price - actual price)*actual quantity

3,337.5 = (standard price - 14.5)*13,350

3,337.5 = 13,350standard price - 193,575

196,912.5 = 13,350standard price

$14.75= standard price

Thank you for choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.