Paua Bay Ski Company manufactures water skis. Standard costs are as follows: Standard Inputs Standard Cost/Ski...

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Paua Bay Ski Company manufactures water skis. Standard costs are as follows: Standard Inputs Standard Cost/Ski Set Direct materials 12 lbs. at $4/lb $48 Direct manufacturing labor 3 hrs at $15/hr $45 Following are data for March: Units budgeted 325 Units completed 300 $20,500 Cost of direct materials purchased Actual direct manufacturing labor hrs. Actual direct labor cost 1,000 $15,500 Direct materials price variance $500U Direct materials efficiency variance $500F Beginning inventory 0 1. How many pounds of material were used in production for March? 2. What was the actual price per pound? Paua Bay Ski Company manufactures water skis. Standard costs are as follows: Standard Inputs Standard Cost/Ski Set Direct materials 12 lbs. at $4/lb $48 Direct manufacturing labor 3 hrs at $15/hr $45 Following are data for March: Units budgeted 325 Units completed 300 $20,500 Cost of direct materials purchased Actual direct manufacturing labor hrs. Actual direct labor cost 1,000 $15,500 Direct materials price variance $500U Direct materials efficiency variance $500F Beginning inventory 0 1. How many pounds of material were used in production for March? 2. What was the actual price per pound?

Answer rating: 100% (QA)

1 Pounds of material were used in production for March 3475 lbs Explanation ... View the full answer