Eggzonmobul incorporated uses chemical x to manufacture oil

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Reference no: EM13355668

EggzonMobul Incorporated uses Chemical X to manufacture oil products. Variance data for the month follows (F indicates a favorable variance, U indicates unfavorable variance):

	Chemical X
Materials Price Variance	$84,000 F
Materials Efficiency Variance	80,000 U
Net Materials Variance	4,000 F
The allowed quantity given the production of oil products	200,000 lbs.

The budget allowed one pound of Chemical X for each pound of oil product requiring Chemical X. For Chemical X, the average price paid was $.40 per pound less than standard. The company purchased and used all of Chemical X in the given period.

a) Calculate the number of pounds of Chemical X purchased.

b) Calculate the standard cost per pound of Chemical X.

c) Calculate the total standard material cost for Chemical X.

Reference no: EM13355668

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