Direct Materials Standard Assignment
I got 6.4 but its wrong E11-19A (similar to) Hallmark Rings produces class rings. Its best-selling model has a direct materials standard of 13 grams of a special alloy per ring.
This special alloy has a standard cost of $65.00 per gram. In the past month, the company purchased 13,800 grams of this alloy at a total cost of $888,720. A total of 13,200 grams were used last month to produce 1,000 rings. Read the requirements. Requirement 1. What is the actual cost per gram of the special alloy that Hallmark Rings purchased last month? (Round y r answer to -nearest cent.) 6.4 The actual cost per gram of the special alloy that Hallmark Rings purchased last month is $.
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