How many pounds of materials should kt have used, Accounting Basics

How many pounds of materials should kt have used

Problem: KT Inc. has the following direct materials standard to manufacture one Widget:

1.5 pounds per Widget at $4.00 per pound

Last week, 1,700 pounds of materials were purchased and used to make 1,000 Widgets. The materials cost a total of $6,630.

How many pounds of materials should KT have used to make 1,000 Widgets?

What is KT's materials quantity variance for the week was:

What is KT's materials price variance for the week was:

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Accounting Basics: How many pounds of materials should kt have used

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Accounting Basics: How many pounds of materials should kt have used

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