Happy, Inc. produces a product requiring 8 pounds of material at P1.50 per pound. Happy, Inc. produced 10,000 units of this product during 2021 resulting in a P30,000 unfavorable materials quantity variance. How many pounds of direct material did Happy, Inc use during 2021?

Principles of Accounting Volume 2
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ISBN:9781947172609
Author:OpenStax
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Chapter8: Standard Costs And Variances
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Problem 6PB: Corolla Manufacturing has a standard cost for steel of $20 per pound for a product that uses 4...
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Happy, Inc. produces a product requiring 8 pounds of material at P1.50 per pound. Happy, Inc. produced 10,000 units of this product during 2021 resulting in a P30,000 unfavorable materials quantity variance. How many pounds of direct material did Happy, Inc use during 2021?

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