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Lily Company uses a standard cost accounting system. In 2 0 2 7 , the company produced 2 7 , 6 0 0 units. Each
Lily Company uses a standard cost accounting system. In the company produced units. Each unit took several pounds of direct materials and standard hours of direct labor at a standard hourly rate of $ Normal capacity was direct labor hours. During the year, pounds of raw materials were purchased at $ per pound. All materials purchased were used during the year.
If the materials price variance was $ favorable, what was the standard materials price per pound? Round answer to decimal places, eg
Standard materials price per pound
$
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If the materials quantity variance was $ unfavorable, what was the standard materials quantity per unit?
Standard materials quantity per unit pounds
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