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Determine the standard direct materials cost per unit

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Problem - Standard direct materials cost per unit from variance data

The following data relating to direct materials cost for November of the current year are taken from the records of Tot Toys Inc., a manufacturer of plastic toys:

Quantity of direct materials used 2,000 lbs.

Actual unit price of direct materials $2.40 per lb.

Units of finished product manufactured 460 units

Standard direct materials per unit of finished product 4 lbs.

Direct materials quantity variance-unfavorable $500

Direct materials price variance-favorable $1,450

Required - Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in process at either the beginning or the end of the month.

Reference no: EM132687102

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