The following materials standards have been established for a particular product: Standard quantity 5.3meters per unit of output Standard price $ 17.20per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 8,100meters $ 141,345 7,600meters 1,400units >

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Question
The following materials standards have been established for a particular product:
Standard quantity
5.3meters
per unit of output
Standard price
$
17.20per meter
The following data
pertain to
operations
concerning the
product for the last
month:
Actual materials
purchased
Actual cost of
materials
purchased
Actual materials
used in production
Actual output
8,100meters
$
141,345
7,600meters
1,400units
>
Transcribed Image Text:The following materials standards have been established for a particular product: Standard quantity 5.3meters per unit of output Standard price $ 17.20per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 8,100meters $ 141,345 7,600meters 1,400units >
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