Bumgardner Inc. has provided the following data concerning one of the products in its standard cost system.InputsStandard Quantity or Hours per Unit of OutputStandard Price or RateDirect materials8.0 liters$5.00 per literThe company has reported the following actual results for the product for April: Actual output 7,400unitsRaw materials purchased 65,400litersActual price of raw materials$5.70per literRaw materials used in production 59,210litersThe raw materials price variance for the month is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $41,447 U
B. $41,447 F
C. $45,780 F
D. $45,780 U
Answer: D
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This chapter stressed the importance of data normalization when constructing a relational database. Why then is it important to de-normalize data in a data warehouse?
A negative value of z indicates that
A. the number of standard deviations of an observation is to the right of the mean. B. the number of standard deviations of an observation is to the left of the mean. C. a mistake has been made in computations, since z cannot be negative. D. the data has a negative mean.
The entry to record reimbursement of the petty cash fund for postage expense should include:
A. A debit to Petty Cash. B. A debit to Cash Short and Over. C. A debit to Postage Expense. D. A debit to Cash. E. A debit to Supplies.
Ruozzo Corporation is a service company that measures its output by the number of customers served. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for July. Fixed Element per MonthVariable Element per Customer ServedActual Total for JulyRevenue $4,500$100,000Employee salaries and wages$43,100 $900$63,300Travel expenses $500$11,500Other expenses$36,900 $37,900?When the company prepared its planning budget at the beginning of July, it assumed that 27 customers would have been served. However, 22 customers were actually served during July.?The activity variance for net operating income for July would have been closest to:
A. $16,400 U B. $15,500 F C. $15,500 U D. $16,400 F