Random Company produces a product that requires 6 standard pounds per unit. During the recent period,...
Random Company produces a product that requires 6 standard pounds per unit. During the recent period, the company produced 500 units. The standard allowed for materials was $3,750. The materials usage variance was $125 favorable, while the materials price variance was $85 unfavorable, based on the 3,100 pounds actually purchased.
How many pounds were actually used in production?
_________________pounds
Homework Answers
Material usage variance = (standard quantity - actual quantity used) *standard price
125 = (500*6 - Actual quantity used) *3750/(500*6)
Actual quantity used = 2900 pounds
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