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Standards for direct materials in making one unit of product are: 20 punds per unit at $0.75 per pound. Last month, 56,000 units of product
Standards for direct materials in making one unit of product are: 20 punds per unit at $0.75 per pound. Last month, 56,000 units of product were made; the materials price variance was $30,000 unfavorable; and the materials quanity variance was $30,000 Favorable. The number of pounds of direct material used during the period is closed to:
A. 1,160,000
B. 1,073,333
C. 1,166,667
D. 1,080,000
Please show work.
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