When the quantity of materials purchased is not equal to the quantity of material used, most companies base the calculation of the material quantity variance on the:
A. quantity of direct materials purchased.
B. quantity of direct materials spoiled.
C. quantity of direct materials actually used.
D. quantity of direct materials that should have been used in achieving actual production.
E. none of the other answers are correct.
Answer: C
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What will be an ideal response?
The ________ states that a merchant who offers to buy, sell, or lease goods and gives a written and signed assurance on a separate form that the offer will be held open cannot revoke the offer for the time stated or, if no time is stated, for a
reasonable time. A) gap-filling rule B) firm offer rule C) mirror image rule D) open term rule
Elimination of the privity requirement led to ________
A) an increase in the liability of producers B) an increase in the liability of consumers C) a decrease in the liability of manufacturers D) a decrease in the liability of sellers
When goods are shipped COD:? A) the buyer always has the right to examine them before making payment
B) the underlying contract must specify when the buyer may inspect the goods. C) the buyer has no right to examine the goods until payment is made. D) the buyer gives up all rights to inspection of the goods.