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ChemKing uses a standard costing system in the manufacture of its single product. The 35,000 units of direct materials in inventory were purchased for $105,000, and two units of direct materials are required to produce one unit of final product. In November, the company produced 12,000 units of product. The standard allowed for materials was $60,000, and the unfavorable quantity variance was $2,ChemKing’s standard price for one unit of direct materials is ChemKing’s standard price for one unit of direct materials is A. $2.00 B. $2.50 C. $3.00 D. $5.00 |