The standard materials cost to produce 1 unit of Product R is 7 pounds of material...
The standard materials cost to produce 1 unit of Product R is 7 pounds of material at a standard price of $47 per pound. In manufacturing 6,000 units, 41,000 pounds of material were used at a cost of $48 per pound. What is the total direct materials cost variance?
Homework Answers
Standard cost to manufacture 6,000 units = 7 X $47 X 6,000 = $1,974,000
Actual cost to manufacturing 6,000 units = 41,000 X $48 = $1,968,000
Direct material cost variance = $1,974,000 - $1,968,000 = $6,000 Favourable
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