Illustrated Example: Calculating Direct Materials Cost Variance Actual Cost Standard Cost Actual Materials X Actual Rate Actual Materials X Standard Rate Standard Materials X Standard Rate 6990 X 8.9 6990 8.40 X 62211 V = Direct Materials Price Variance Direct Materials Quantity Variance 62211 $ $ U U V Total Direct Materials Cost Variance UStandard Materials Cost The controller at your shoemaking company has determined that under normal conditions, you will spend $8.40 per unit of materials, and it will take 2.6 units of material per pair of shoes. Given this information, calculate the standard cost of materials per pair of shoes. If require round the standard cost per pair of shoes to the nearest cent. Standard Price Standard Materials Standard Cost Manufacturing Costs per Unit of Material X per Pair per Pair Direct Materials 8.40 v per unit 2.6 v units 21.84 Feedback Check My Work Use the standard price and standard materials values shown to compute the standard cost per pair. Actual Materials Cost During May, your shoemaking company incurred actual direct materials costs of $62,211 for 6,990 units of direct materials in the production of 2,175 pairs of shoes. Given this information, calculate the actual cost of materials per unit. If require, round the actual cost of material per unit to the nearest cent. Actual Total Cost Actual Materials Actual Cost Manufacturing Costs of Materials Used per Unit Direct Materials 62211 6990 V units 8.9 Feedback Check My Work