Miguez Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect materials 2.3liters$7.00per liter$16.10 Direct labor 0.7hours$22.00per hour$15.40 Variable overhead 0.7hours$2.00per hour$1.40 ?The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.?The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is
computed when the materials are purchased.?The materials quantity variance for September is:
A. $2,232 F
B. $2,170 F
C. $2,170 U
D. $2,232 U
Answer: B
You might also like to view...
What is the objective of SAS 99?
Which of the following is a characteristic of intuition in decision-making?
A. follows a conscious process B. results in longer time to make decisions C. results in affectively charged judgments D. has no place in organizational decisions
In dealing with online efforts to derail an organization, the public relations practitioner is BEST advised to ________
A) adopt "inoculation strategies" that establish clear communication policies B) do nothing; the problem will fade out on its own C) spend whatever is necessary to shut down the offenders D) hire attorneys to pursue the offenders
Which of the following is an element of perceived risk?
a. physical risk b. reference group risk c. purchase risk d. lifestyle risk