Brown Inc. makes a single product. Only one kind of direct material is used to...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Brown Inc. makes a single product. Only one kind of direct material is used to make this product. The company uses a standard cost system. The company's cost records for October show the following data:
Number of units produced
10,000
Material price variance
$
8,400
Favorable
Material quantity variance
$
8,000
Unfavorable
Actual direct material purchased and used
18,000
pounds
Direct materials standard price
$
8
per pound
There were no beginning inventories of direct materials.
The actual cost of direct material was:
Group of answer choices
$8.00 per pound
$7.53 per pound
$7.02 per pound
$8.12 per pound
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
