Brown Inc. makes a single product. Only one kind of direct material is used to...
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Accounting
Brown Inc. makes a single product. Only one kind of direct material is used to make this product. The company uses a standard cost system. The company's cost records for October show the following data:
| Number of units produced | 10,000 | |||
| Material price variance | $ | 8,400 | Favorable | |
| Material quantity variance | $ | 8,000 | Unfavorable | |
| Actual direct material purchased and used | 18,000 | pounds | ||
| Direct materials standard price | $ | 8 | per pound | |
There were no beginning inventories of direct materials.
The actual cost of direct material was:
Group of answer choices
$8.00 per pound
$7.53 per pound
$7.02 per pound
$8.12 per pound
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You can see the logs in the Dashboard.