You have been given the following information about the production of Usher Co., and are asked to provide the plant manager with information for a meeting with the vice president of operations.
Standard Cost Card
Direct materials (5 pounds at $5 per pound) $25.00
Direct labor (0.90 hours at $10) 9.00
Variable overhead (0.90 hours at $4 per hour) 3.60
Fixed overhead (0.90 hours at $9 per hour) 8.10
$45.70
The following is a variance report for the most recent period of operations.
Variances
Costs Total Standard Cost Price Quantity
Direct materials $405,000 $8,298 F $9,900 U
Direct labor 145,800 4,590 U 7,200 U
(a) How many units were produced during the period? (Round answers to 0 decimal places, e.g. 125.)
Number of units
You have been given the following information abou
(b) How many pounds of raw material were purchased and used during the period? (Round answers to 0 decimal places, e.g. 125.)
Raw material
You have been given the following information abou
pounds
(c) What was the actual cost per pound of raw materials? (Round to 2 decimal places, e.g. 1.25.)

Answer:

Usher Co.

a. The units produced during the period is:

= 16,200 units

b. The pounds of raw materials purchased and used during the period is:

=  82,980 pounds

c. The actual cost per pound of raw materials is:

= $4.90

Explanation:

a) Data and Calculations:

Standard Cost Card

Direct materials (5 pounds at $5 per pound) $25.00

Direct labor (0.90 hours at $10)                           9.00

Variable overhead (0.90 hours at $4 per hour)  3.60

Fixed overhead (0.90 hours at $9 per hour)       8.10

                                                                         $45.70

Variances

Costs                        Total Standard Cost     Price         Quantity

Direct materials                     $405,000      $8,298 F   $9,900 U

Direct labor                               145,800        4,590 U     7,200  U

Units produced = Total standard cost/direct materials standard cost per unit

= $405,000/$25

= 16,200 units

Pounds of raw materials purchased and used = (Total standard cost + Unfavorable Quantity Variance)/direct materials standard cost per pound

= ($405,000 + $9,900)/$5

= 82,980 pounds

Actual costs:

Direct materials = $406,602 ($405,000 - $8,298 + $9,900)

Actual price per pound = $4.90 ($406,602/82,980)

Direct labor = $157,590 ($145,800 + 4,590 + 7,200)

Actual price per pound = ((Actual Quantity * Standard Price) - Favorable Price Variance)/Actual Quantity

= ((82,980 * $5) - $8,298)/82,980

= ($414,900 - $8,298)/82,980

= $406,602/82,980

= $4.90

A. The units produced during the period are 16200 (rounded off to nearest zero).

B. 82980 pounds of raw material was being required during the period.

C. The actual cost of raw materials come out of $4.90/pound

[tex]\rm units\ produced=\dfrac{\rm{total standard cost}}{\rm{direct materials}}\\\\units \ produced = \dfrac{405000}{25}\\\\\rm units\ produced = 16200[/tex]

So, 16200 units were produced.

[tex]\rm raw\ material\ used = \dfrac{\rm{total\ standard\ cost+\ unfavourable \ quantity\ variance}}{\rm{direct\ material \ standard\ cost\ per \pound}} \\\\ =\dfrac{4149000}{5}\\\\=829800[/tex]

So, 829800 pounds of raw material was consumed during the period.

Hence, the answers are calculated as

Actual cost per pound = $4.90

Raw material consumed and purchased = 829800 pounds

Units produced = 16200 units

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