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Winterfell, Inc. purchased and consumed 35,000 pounds of direct material that was used in the...

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Accounting

Winterfell, Inc. purchased and consumed 35,000 pounds of direct material that was used in the production of 17,000 finished units of product. According to engineering specifications, each finished unit had a manufacturing standard of three pounds of direct material. If a review of Winterfells accounting records at the end of the period disclosed a direct-material quantity variance of $4,000F and a direct-material price variance of $7,000U, determine the actual price paid for a pound of direct material. A.

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