) A company finds that consumer demand quantity changes with respect to price at a rate given by D'(p) = - 2000 p 2 . Find the d
1 answer:
You might be interested in
Answer:
Actual Price paid for materials = $4.2136 2,200 = $9,270
Actual price per unit = $4.2136
Explanation:
Provided information,
Standard Material per unit = $4
Total cost = $8,400
Standard Quantity = $8,400/$4 = 2,100 units
Provided Material Price variance = $470 unfavorable = - $470
Material Quantity Variance = $400 Unfavorable = - $400
Using Material Quantity Variance
- $400 = (2,100 - Actual Quantity) $4
-$400/$4 = 2,100 - Actual Quantity
Actual Quantity = 2,100 + 100 = 2,200 units
Now, putting this value in Material Price Variance we have,
- $470 = ($4 - Actual Price) 2,200
-$470/2,200 = $4 - Actual Price
- $0.214 = $4 - Actual Price
Actual Price = $4 + $0.2136 = $4.2136
Final Answer
Actual Price paid for materials = $4.2136 2,200 = $9,270
Actual price per unit = $4.2136