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:
Tax-Exempt
Financial earnings that are not subject to taxation by the government, often applied to certain bonds and municipal securities.
Preferred Stock
Nonvoting shares in a corporation, paying a fixed or variable stream of dividends.
Cumulative Dividends
Dividends that are owed to preferred shareholders of a company and must be paid out before dividends can be distributed to common shareholders.
Voting Power
Voting power refers to the number of votes a shareholder has in a company's decisions, typically based on the number of shares held.
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