Reference no: EM132771250

Kansas Company uses a standard cost accounting system. In 2017, the company produced 28,300 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,100 direct labor hours. During the year, 131,600 pounds of raw materials were purchased at $0.90 per pound. All materials purchased were used during the year.

Problem 1: If the materials price variance was $3,948 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 2.75.)

Problem 2: If the materials quantity variance was $3,953 unfavorable, what was the standard materials quantity per unit?