Information about direct materials cost follows for a local company: Standard price per materials gram $...
Information about
direct materials cost follows for a local company:
| Standard price per materials gram | $ | 16 | |
| Actual quantity used | 2,250 | grams | |
| Standard quantity allowed for production | 2,375 | grams | |
| Price variance | $ | 14,400 | F |
Required:
What was the actual purchase price per gram? (Round your answer to 2 decimal places.)
| Actual purchase price | per gram |
Homework Answers
Price Variance = (SP-AP) * AQ
(16 - AP) * 2250 = 14,400
16 - AP = 6.4
AP = 9.60
Actual purchase price = 9.60 per gram
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