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Determine kilo standard price per pound of direct materials

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Question - Kilo Company uses a standard costing system that allows 2 pounds of direct materials for one finished unit of product. During July, the company purchased 44,000 pounds of direct materials for $250,000, and manufactured 12,400 finished units. The standard direct materials cost allowed for the units manufactured is $173,600. The performance report shows that Kilo has an unfavorable direct materials usage variance of $5,400. Also, the company records any price variance for materials at time of purchase. Determine the Kilo standard price per pound of direct materials?

Reference no: EM133173980

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