A company has the following information available about one of its products:
$\begin{array}{ll}
\text { Standard price per pound of input } & \$ 25 \
\text { Actual price per pound of input } & \$ 24 \
\text { Standard inputs per unit of output } & 3 \text { pounds } \
\text { Actual units of output } & 2,770 \
\text { Direct Materials Quantity Variance } & \$ 250 \mathrm{~F}
\end{array}$
How many pounds of material were used?
A) $8,300
B) $8,310
C) $8,320
D) $8,330

Question

Quizplus · Accepted Answer

The Direct Materials Quantity Variance is calculated as follows:$DMQV = (SP - AP) * AQ$where:SP = Standard price per pound of inputAP = Actual price per pound of inputAQ = Actual quantity of input usedSubstituting the given values into the formula, we get:$\$250 = (\$25 - \$24) * AQ$Solving for AQ, we get:$AQ = 8,333.33$Therefore, the number of pounds of material used is 8,333.33.

A Company Has the Following Information Available About One of Its