Mark Corporation's standards for direct materials in making one unit of product are 2 pounds per unit at $0.50 per pound. Last month, 64,200 units of product were made; the materials price variance was $7,000 Favorable; and the materials quantity variance was $5,000 Unfavorable. Required:
What was the number of pounds of direct materials Mark used during the period?

Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. the seller announced that the highest bid in excess of $9,500 will be accepted. assume that the competitor's bid x is a random variable that is uniformly distributed between $9,500 and $15,500. suppose you bid $12,000. what is the probability that your bid will be accepted?