Solution-What was the standard materials price per pound

What was the standard materials price per pound

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Reference no: EM133173225

Question - Kansas Company uses a standard cost accounting system. In 2022, the company produced 28,000 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,000 direct labor hours. During the year, 117,000 pounds of raw materials were purchased at $0.92 per pound. All materials purchased were used during the year.

Required - If the materials price variance was $3,510 favorable, what was the standard materials price per pound?

Reference no: EM133173225

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What was the standard materials price per pound

Reference no: EM133173225

Reference no: EM133173225

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