Homework Answers
Answer: $445,500
Explanation:
i. (Actual quantity x Standard price) - (Standard quantity x Standard price) = $6,750
(Actual quantity x Standard price) - Standard material cost = $6,750
(Actual quantity x Standard price) = $6,750 + Standard material cost
(Actual quantity x Standard price) = $6,750 + $450,000
(Actual quantity x Standard price) = $456,750
.
ii. (Actual quantity x Actual price) - (Actual quantity x Standard price) = -$11,250
Actual Total direct material cost - (Actual quantity x Standard price) = -$11,250
Actual Total direct material cost - $456,750 = -$11,250
Actual Total direct material cost = -$11,250 + $456,750
Actual Total direct material cost = $445,500
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