During June, Danby Companys material purchases amounted to 7,000 pounds at a price of $7.50...
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Accounting
During June, Danby Companys material purchases amounted to 7,000 pounds at a price of $7.50 per pound. Actual costs incurred in the production of 1,500 units were as follows:
| Direct labor: | $ 119,325 | ($18.50 per hour) |
|---|---|---|
| Direct material: | $ 36,000 | ($7.50 per pound) |
The standards for one unit of Danby Companys product are as follows:
| Direct Labor: | Direct Material: |
|---|---|
| Quantity, 4 hours per unit | Quantity, 3 pounds per unit |
| Rate, $18.40 per hour | Price, $7.20 per pound |
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