Kartman Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect materials 6.5pounds$7.00per pound$45.50Direct labor 0.6hours$24.00per hour$14.40Variable overhead 0.6hours$4.00per hour$2.40?In June the company's budgeted production was 3,400 units but the actual production was 3,500 units. The company used 22,150 pounds of the direct material and 2,290 direct labor-hours to produce this output. During the month, the company purchased 25,400 pounds of the direct material at a cost of $170,180. The actual direct labor cost was $57,021 and the actual variable overhead cost was $8,931.?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 price variance for June is:
A. $7,620 U
B. $7,620 F
C. $6,825 F
D. $6,825 U
Answer: B
You might also like to view...
Apple’s forecasts for the first iPad tablets were likely which type of forecast?
a. Quantitative b. Qualitative c. Qualified d. Quantified
In the context of business ethics,
A. the Sarbanes-Oxley Act requires all private companies to disclose their financial statements. B. the code of ethics is drawn up by an organization's administrative department. C. the statements provided by public companies regarding their code of ethics, as required by the Sarbanes-Oxley Act, are often just for show. D. ethical codes focus exclusively on employee conduct and avoid subjects such as the environment, technology, and political activity. E. executives pay the most attention to their company's code of ethics when their senior managers instruct them to do so.
A goal programming model for RFM analysis is used when the analyst wants to assign priorities to each of the dimensions
a. True b. False
Which of the following would be an invalid restrictive covenant in a deed?
A) A requirement that all buildings be of a certain style B) A requirement that all homes contain a double garage C) An agreement not to sell to anyone of Hispanic descent D) An agreement requiring a minimum size for homes