Determine the actual purchase price

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Kennedy Inc. has the following data for its operation in August:

Increase in direct materials inventory 100 Sets

Direct materials purchased (AQ) 1,600 Sets

Finished goods manufactured 700 units

Direct materials purchase-price variance$400 Favorable Budgeted

Finished goods to manufacture 800 Units

Direct materials purchases 2,000 Sets

Direct materials per unit of finished goods 2 Sets

Direct materials price per set (SP)$3.60

What was the actual purchase price (AP) per set of direct materials purchased (to two decimal places)?

Reference no: EM132910707

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