Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company had a $56,000 unfavorable direct material quantity variance during a time period when the standard price per pound of direct material was $7

A company had a $56,000 unfavorable direct material quantity variance during a time period when the standard price per pound of direct material was $7 and the actual price per pound of direct material was $7.50. If the standard quantity of direct material allowed for production was 52,000 pounds, how many pounds of direct material were actually used during this period?

a) 60,000 pounds
b) 44,000 pounds
c) 56,000 pounds
d) 364,000 pounds
e) 420,000 pounds

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing For Dummies

Authors: Maire Loughran

1st Edition

0470530715, 978-0470530719

More Books

Students also viewed these Accounting questions

Question

Explain the nature of non-current assets.

Answered: 1 week ago

Question

What appraisal intervals are often used in appraisal reviews?

Answered: 1 week ago

Question

What are the various alternatives?

Answered: 1 week ago