Machine Builders Inc. adopted a standard cost system several years ago that it u

Question

Machine Builders Inc. adopted a standard cost system several years ago that it uses in conjunction with its process cost system. The per-unit standard costs for direct materials and direct labor for its single product are as follows Materials: (3.50 kilograms x$8.80 per kilogram) S30.80 Labor: (3.40 hours x$15.60 per hour) $53.04 All materials are issued at the beginning of processing. The operating data shown below were taken from the records for July: In-process beginning inventory in-process ending inventory-80.00% Units completed Budgeted output Purchases of materials in kilograms (AQ) Total actual labor costs incurred Direct labor hours worked (AQ) Materials purchase-price variance Increase in materials inventory in July Beginning inventory of materials complete as to labor 900 units 6,140 units 6,900 units 26,000 $467,000 24,300 hours $2,500 unfavorable 1,300 kilograms The standard cost of materials used in production was: $467,000 $217,360 $379,080 $216,832 $219,735

Explanation / Answer

(in Kilograms) Material used for In-process Inventory                    3,150 Material used for Completed Units                 21,490 Total Material Used                 24,640 Material Consumed ($) @ 8.80 per Kilogram              2,16,832

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