Shoemaker Perkins Company uses a standard cost system and had 410 pounds of raw

Question

Shoemaker Perkins Company uses a standard cost system and had 410 pounds of raw material X15 on hand on September 1. The standard cost is $10.35 per pound. The standard calls for 2.10 pounds of material X15 for each unit of the product manufactured. The company manufactured 620 units of the product in September, and had 520 pounds of Material X-15 in stock on September 30. The actual price for Material X-15 purchased during the month was $1.00 per pound below the standard cost. The material usage variance in September was $3,100 unfavorable. What is the standard cost of materials for the units produced in September? $14,974 $17,576 $16,576 $14,476 $13,476 Shoemaker Perkins Company uses a standard cost system and had 410 pounds of raw material X15 on hand on September 1. The standard cost is $10.35 per pound. The standard calls for 2.10 pounds of material X15 for each unit of the product manufactured. The company manufactured 620 units of the product in September, and had 520 pounds of Material X-15 in stock on September 30. The actual price for Material X-15 purchased during the month was $1.00 per pound below the standard cost. The material usage variance in September was $3,100 unfavorable. What is the standard cost of materials for the units produced in September? $14,974 $17,576 $16,576 $14,476 $13,476

Explanation / Answer

Details Amount Std Cost Per unit of material                                10 Std Unt per product                                  2 Actual Production                              620 Std Cost of material=Std Cost Per unit of material*Std Units Per Product*Actual Production                        13,476

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