Asked by Rachel Romero on Apr 25, 2024
The standard price per unit for direct materials should reflect the final, delivered cost of the materials.
Standard Price
A predetermined cost assigned to materials, labor, and overhead used in budgeting and variance analysis.
Direct Materials
Components that are directly associated with the creation of a product and form a crucial part of the completed item.
- Learn the utilization of quantity and price criteria in regulating the costs of materials and labor.
Learning Objectives
- Learn the utilization of quantity and price criteria in regulating the costs of materials and labor.