Evaluate the standard price per pound

Reference no: EM139774

A company uses 40,000 pounds of materials for which they paid $9.00 a pound. The materials price variance was $80,000 favorable. What is the standard price per pound?

1. $2.00.
2. $7.00.
3. $10.00.
4. $11.00.

Reference no: EM139774

Questions Cloud

Exam performance : If immediately after you get this exam back from your psychology professor, you want to know what the highest, lowest, and average grades

Find the labor efficiency variance : The standard costs and actual costs for direct materials, direct labor, and factory overhead for the manufacture of 2,500 units of product and find the labor efficiency (quantity) variance

Sociological imagination and theoretical perspectives : Apply the sociological imagination, theoretical perspectives and scientific research to uncover the patterns of social behavior.

Journal entries to record normal and abnormal rework : Prepare journal entries to record the accounting for both the normal and abnormal rework. What were the total rework costs of XD1 chips in August 2011?

Evaluate the standard price per pound : The materials price variance was $80,000 favorable. Evaluate the standard price per pound?

Computation of dividend paid on common stock : Computation of Dividend paid on common stock under non-cumulative & cumulative schemes. Compute the dividends paid to each class of stock in each of those years assuming the preferred stock is non-cumulative. Use the matrix format listed be..

Find how much will nunnally report as accounts payable : The accounts payable account is used only for direct materials. Find How much will Nunnally report as accounts payable on their balance sheet at the end of May?

Characterizing critical thinking : Describe three qualities that characterize critical thinking.

Balanced scorecard and perspectives on performance : Make notes on the following two items to help your manager to understand their meaning: The balanced scorecard and its perspectives on performance

Reviews

Write a Review

Required(*) Message

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages