Question
The following cost information is for Leslie Company. Actual results: Total cost of purchasing material.................................................... $15,000 Number of labor hours worked...................................................... 450 hours Number of
The following cost information is for Leslie Company.
Actual results:
Total cost of purchasing material.................................................... $15,000
Number of labor hours worked...................................................... 450 hours
Number of material pounds used in production.................. 2,000 pounds
Number of units produced............................................................... 200 units
Number of material pounds purchased................................. 1,500 pounds
Total labor cost.................................................................................... $12,500
Leslie Company has established the following standards:
Price per pound of materials............................................... $8.00 per pound
Standard labor rate............................................................... $30.00 per hour
During the year, Leslie Company had an UNFAVORABLE MATERIALS QUANTITY VARIANCE for a total of $3,200. Given these data, what is the standard number of pounds of material needed to produce one unit?
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