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27 July, 10:50

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 $10 per pound. Zinc determined that it had a favorable materials usage variance of $1,600 for June. Calculate the actual quantity of materials used by Zinc Company in June. Group of answer choices 19,840 pounds 19,660 pounds 19,680 pounds 19,860 pounds

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  1. 27 July, 11:34
    0
    19,840 pounds

    Explanation:

    The computation of actual quantity of materials is shown below:-

    Materials usage variance = (Selling quantity - Actual quantity) * Standard Price

    = (10,000 * 2 - Actual quantity) * $10 = $1,600

    = (20,000 - Actual quantity) * $10 = $1,600

    = 20,000 - Actual quantity = $160

    Actual quantity = 20,000 - $160

    = $19,840 pounds

    Therefore for computing the actual quantity of materials we simply applied the above formula.
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