Flexer Company Ltd has set the following standards for the production of one unit of product. Normal production each month is 500 units. 
During June, actual production amounted to 420 units. All direct material was purchased and used this month. Actual cost amounted to: 
Determine the direct material price for June production.
Definitions:
Fully Depreciated
Refers to an asset that has reached the end of its useful life for accounting purposes, having no remaining book value.
Gain
A financial increase in the value of an asset or a rise in the value of an investment, excluding the amounts invested or cost incurred to achieve the gain.
Book Value
The net value of an asset or company based on its balance sheet accounts, calculated as assets minus liabilities.
Accumulated Depletion
The total amount charged against the natural resources (like timber, minerals, and oil) a company has extracted, reflecting the decrease in value of those resources.
Q4: Carter Manufacturers have budgeted sales for the
Q18: Which of the following statements is most
Q28: When accounting for the costs of abnormal
Q39: Traditional product costing does not generally include
Q41: The benefits arising from the introduction of
Q47: The complexity of service costs for the
Q68: Which of the following criticisms of standard
Q79: A favourable overhead efficiency variance is the
Q82: Which of the following statements regarding the
Q88: Explain how practical standards the attitude of