The standard quantity allowed for the units produced was 4,500 pounds, the standard price was $2.50 per pound, and the materials quantity variance was $375 favorable. Each unit uses 1 pound of materials. How many pounds were actually used?

Actual pounds used =4,350

Explanation:

The material quantity variance is the difference between the actual quantity of material used and the standard quantity and the difference multiplied by the standard price per quantity.  

                                                                                            Pound

Standard quantity                                                              4500

Actual quantity                                                                 ___y___

Quantity variance (                                                           4,500 - y favourable

Variance in ($) = (4500 -y ) ×  $2.50

                  375 = 11,250  - 2.50y

                2.50y = 11,250 - 375

                            = (11,250-375)/2.50

                            = 4,350

Actual pounds used =4,350

answer; normative economics;