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Assume the following: The standard price per pound is $2.00. The standard quantity...

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Accounting

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Assume the following: The standard price per pound is $2.00. The standard quantity allowed per unit of finished goods is 4 pounds. The actual quantity of materials purchased and used in production is 50,000 pounds. The materials price variance is $7,500 U. The company produced 13,000 units of finished goods during the period. The actual price per pound of direct materials is closest to: Multiple Choice O $1.65 O $1.75. O $2.15 $2.05

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