--/114Question 4View PoliciesCurrent Attempt in Progresspaid $2 a pound. The materials price variance was $5000unfavorable. What is the standard price per pound?A company uses 20000 pounds of materials for which itO $2.00O $2.25O $1.75O $0.25hp11f1of9144174-1615

Calculation of standard price per pound:

Answered: --/1 14 Question 4 View Policies…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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ic raw lill D Q Problem 11-22 (Algo) Special Order Decisions [LO11-4] Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the company can produce and sell 42,000 Rets per year. Costs associated with this level of production and sales are given below: A N Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling expense Fixed selling expense Total cost Rets per year. The Rets normally sell for $60 each. Fixed manufacturing overhead is $378,000 per year within the range of 35,000 through 42,000 Required: 1. Assume that due to a recession, Polaski Company expects to sell only 35,000 Rets through regular channels next year. A large retail chain has offered to purchase 7,000 Rets if Polaski is willing to accept a 16% discount off the regular price. There would be no sales commissions on this order; thus, variable selling expenses would be slashed by 75%. However, Polaski Company would have to purchase…
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--/1 14 Question 4 View Policies Current Attempt in Progress paid $2 a pound. The materials price variance was $5000 unfavorable. What is the standard price per pound? A company uses 20000 pounds of materials for which it O $2.00 O $2.25 O $1.75 O $0.25 hp 11 f1o f9 144 17 4- 16 15