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23 October, 05:41

During June, Zinc Company produced 10,000 chainsaw blades. The standard quantity of material allowed per unit was 2 pounds of steel per blade at a standard cost of $5 per pound. Zinc determined that it had a favorable materials usage variance of $1,500 for June. Calculate the actual quantity of materials used by Zinc Company in June.

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  1. 23 October, 06:37
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    actual quantity = 19,700 pounds

    Explanation:

    Giving the following information:

    Units = 10,000

    The standard quantity of material allowed per unit was 2 pounds of steel per blade at a standard cost of $5 per pound.

    Favorable materials usage variance of $1,500 for June.

    To calculate the actual material quantity, we need to use the following formula:

    Direct material quantity variance = (standard quantity - actual quantity) * standard price

    1,500 = (20,000 - actual quantity) * 5

    1,500 = 100,000 - 5 actual quantity

    -98,500 / (-5) = actual quantity

    19,700 = actual quantity
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