Solution-What was the actual purchase price per unit

What was the actual purchase price per unit

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Reference no: EM133020417

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Q1. A Product Banana contains 60 pounds of raw material per unit. The manufacturing process must provide for a 20% waste allowance. The raw material can be purchased for P2.50 a pound under terms 2/10, n/30. The company takes all cash discounts. The standard direct material cost for each unit of banana is:

-Information on Bibi Company's direct material costs is as follows:

Standard unit price P3.60

Actual Quantity purchased 1,600

Standard quantity allowed for actual production 1,450

Materials purchase price variance P240

What was the actual purchase price per unit, rounded to the nearest centavos?

Q2. Enyemm Company uses standard costing, the following data are available for October:

Actual quantity of direct materials used 23,500 pounds

Standard price of direct materials P2 per pound

Material quantity variance P1,000 unfavorable

The standard quantity of materials allowed for October production are?

Reference no: EM133020417

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What was the actual purchase price per unit

Reference no: EM133020417

Reference no: EM133020417

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