1.) A company uses 30,000 pounds of materials for which the price paid was $3.80 a pound. The materials price variance was $3,000 favorable. What is the standard price per pound? a. $10.00 b. $3.90 c. $3.70 d. $13.80

2.) A company uses 40,000 pounds of materials for which they paid $7.00 a pound. The materials price variance was $80,000 favorable. What is the standard price per pound? a. $2.00 b. $5.00 c. $8.00 d. $9.00

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