Question

A company uses 39400 kilograms of materials for which they paid $8.00 a kilogram. The materials...

A company uses 39400 kilograms of materials for which they paid $8.00 a kilogram. The materials price variance was $153660 favourable. What is the standard price per kilogram? $3.90 $4.10 $9.00 $11.90

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Actual quantity = 39,400 Kilograms

Direct material price variance = $153,660

Actual price  = 8 per kilograms

Standard Price = ?

Direct material price variance = Actual quantity x (Standard Price - Actual price )

153,660 = 39,400 x (Standard price - 8)

153,660/39,400 = standard price - 8

3.9 = standard price - 8

Standard price = $11.9 per kilograms

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
ABC Manufacturing Company uses a standard cost accounting system. In 2020, 28,000 units were produced. Each...
ABC Manufacturing Company uses a standard cost accounting system. In 2020, 28,000 units were produced. Each unit took several kilograms of direct materials and 1.6 standard hours of direct labour at a standard hourly rate of $9. Normal capacity was 50,700 direct labour hours. During the year, 109,200 kg of raw materials were purchased at $0.92 per kilogram. All materials purchased were used during the year. If the labour price variance was $13,665 favourable, what was the actual rate per...
1.) the actual cost of direct materials is $51.30 per kilogram. the standard cost per kilogram...
1.) the actual cost of direct materials is $51.30 per kilogram. the standard cost per kilogram is $55.00. during the current period, 7240 kilograms were purchased and used in production. the standard quantity for actual units produced is 7,000 kilograms. how much is the direct materials price variance? 2.) Vonnie's bakery manufactures a specialty cake that is very popular with the local residents. for may, vonnie's bakery budgeted 800 direct labour hours to produce 400 cakes. in may, Vonnie's bakery...
Coronado Co. produces a product requiring 10 kilograms of material at $1.60 per kilogram. Coronado produced...
Coronado Co. produces a product requiring 10 kilograms of material at $1.60 per kilogram. Coronado produced 9900 products during 2020 resulting in a $29600 unfavourable materials quantity variance. How much direct material did Coronado use during 2020? 117500 kilograms 99000 kilograms 158400 kilograms 146360 kilograms
Jay Levitt Company budgeted the following cost standards for the current year: Direct materials (2 kg...
Jay Levitt Company budgeted the following cost standards for the current year: Direct materials (2 kg of plastic at $5 per kilogram) $10.00 Direct labour (2 hours at $12 per hour) 24.00 Variable manufacturing overhead 11.45 Fixed manufacturing overhead 7.05 Total standard cost per unit $52.50 Actual costs for producing 2,710 units were as follows: Direct materials used 5,990 kg Direct materials purchased (6,440 kg) $30,912 Direct labour (6,820 hours) $68,882 Variable manufacturing costs $32,300 Fixed manufacturing costs $17,600 Calculate...
Jay Levitt Company budgeted the following cost standards for the current year: Direct materials (2 kg...
Jay Levitt Company budgeted the following cost standards for the current year: Direct materials (2 kg of plastic at $5 per kilogram) $10.00 Direct labour (2 hours at $12 per hour) 24.00 Variable manufacturing overhead 11.85 Fixed manufacturing overhead 6.15 Total standard cost per unit $52.00 Actual costs for producing 2,690 units were as follows: Direct materials used 5,920 kg Direct materials purchased (6,730 kg) $32,304 Direct labour (6,950 hours) $67,415 Variable manufacturing costs $32,200 Fixed manufacturing costs $17,700 1....
5. Tractor Corporation produces toy tractors. What is the efficiency variance for direct materials? The company...
5. Tractor Corporation produces toy tractors. What is the efficiency variance for direct materials? The company uses the following direct cost categories: Category Standard Inputs for 1 output Std. Cost per input Direct Materials 4.00 $12.50 Direct Labour 1.40 9.50 Direct Marketing 0.54 5.50 Actual performance for the company is shown below: Actual output: 5,000 units Direct Materials: Materials costs $299,000 Input purchased and used 23,000 Actual price per input $13.00 Direct Manufacturing Labour: Labour costs $95,000 Labour-hours of input...
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company’s products, a football helmet...
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company’s products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 4,000 helmets, using 2,640 kilograms of plastic. The plastic cost the company $20,064. According to the standard cost card, each helmet should require 0.56 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. According to the standards, what cost for plastic should have...
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company’s products, a football helmet...
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company’s products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,700 helmets, using 2,516 kilograms of plastic. The plastic cost the company $19,122. According to the standard cost card, each helmet should require 0.63 kilograms of plastic, at a cost of $8.00 per kilogram. Questions: a. What is the standard quantity of kilograms of plastic (SQ)...
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company’s products, a football helmet...
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company’s products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,600 helmets, using 2,340 kilograms of plastic. The plastic cost the company $17,784. According to the standard cost card, each helmet should require 0.55 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ)...
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company’s products, a football helmet...
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company’s products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,300 helmets, using 2,442 kilograms of plastic. The plastic cost the company $18,559. According to the standard cost card, each helmet should require 0.69 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ)...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT